Awfis Space Solutions IPO subscribed 108.17 times on Day 4 so far, NII portion booked 129x

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

Awfis Space Solutions' IPO subscription witnessed upbeat investor interest on May 27, the final day of bidding, as the issue was subscribed 108.17 times. Investors showed keen interest, with bids pouring in for 93.34 crore shares as against the 86.29 lakh shares on offer.

The IPO, valued at Rs 599 crore, 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. The price band of the offer was fixed at Rs 364-383 per share.

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Non-institutional investors, including high net worth individuals, led the pack, purchasing a whopping 129.28 times of the reserved portion, followed by retail investors with a subscription rate of 53.23 times. Qualified institutional buyers (QIBs) also showed substantial interest, subscribing 116.95 times the reserved portion, while the employee segment was oversubscribed 24.67 times.

Institutional investors made a significant contribution through the anchor book, investing Rs 268.6 crore on May 21. A total of 70,13,483 equity shares were allocated at Rs 383 per share. Key participants in the anchor book included 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 specialises in providing flexible workspace solutions across India, catering to startups, SMEs, and large corporates. Beyond workspace provisions, the company offers ancillary services such as catering, IT assistance, and infrastructure support.

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