Awfis Space Solutions IPO booked 11.41 times on Day 3, QIB booked over 3x

The price band for the issue is set at Rs 364-383 per share.

Awfis Space Solutions' IPO subscription commenced with a promising start on the third day on May 24 with 11.41 times bidding. The offer garnered bids for 9.84 crore shares as against the 86.29 lakh shares on offer.

The Rs 599-crore IPO comprises a fresh issuance of shares worth Rs 128 crore and an offer-for-sale (OFS) of 1,22,95,699 equity shares by existing shareholders, with a price band set at Rs 364-383 per share.

Follow our live blog for all the market updates

Retail investors demonstrated the highest interest, subscribing 21.11 times their allotted quota, while non-institutional investors, including high net worth individuals, purchased 20.99 times their reserved portion. Qualified institutional buyers (QIBs) acquired 3.39 times the reserved portion, and the employee segment was oversubscribed 10.48 times.

Institutional investors contributed Rs 268.6 crore through the anchor book on May 21, with 70,13,483 equity shares allocated at Rs 383 per share. Notable participants in the anchor book include Ashoka Whiteoak ICAV, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Axis Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Quant Mutual Fund, Invesco India, Motilal Oswal MF, Edelweiss, and Bandhan Mutual Fund.

Established in 2014, Awfis Space Solutions Limited specializes in providing workspace solutions across India, catering to startups, SMEs, and large corporates. They offer flexible workspace options along with ancillary services such as catering, IT assistance, and infrastructure support.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.