Brands
YSTV
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Yourstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

Videos

ADVERTISEMENT
Advertise with us

Awfis IPO gets overwhelming support on day one, subscribed 2.03 times

The IPO of Awfis got good support from all categories of investors—retail, non-institutional, and qualified institutional buyers

Awfis IPO gets overwhelming support on day one, subscribed 2.03 times

Wednesday May 22, 2024 , 2 min Read

The initial public offering (IPO) of Awfis Space Solutions got an overwhelming response on day one, with the issue being subscribed 2.03 times led by retail investors.

The Rs 599 crore public issue is a combination of a fresh issue of 33 lakh equity shares aggregating Rs 128 crore and an offer-for-sale component of 1.23 crore shares aggregating Rs 470.93 crore.

The company has priced its IPO in the range of Rs 364-383 per share. It has already raised Rs 268.62 crore from anchor investors on May 21 ahead of the IPO opening.

Awfis

Also Read
Go Digit IPO oversubscribed 9.6 times on final day

On day one, the retail investors subscribed 6.04 times their allotted shares, bidding 94,07,931 shares against their quota of 15,58,551 shares. The non-institutional investors bid 2.76 times, with bids of 64,63,275 shares against their allotted share of 23,37,827 shares. Qualified institutional buyers also opened their account on day one, subscribing for 30% of their share.

Awfis plans to use the funds raised to expand its managed aggregation model, improve customer services, and expand into new markets, including Tier I and II cities. The company also plans to invest in operational efficiency and talent development to sustain its growth trajectory.

This co-working space company reported a revenue of Rs 565 crore for FY23 compared with Rs 278 crore in FY22. Awfis posted a loss of Rs 46 crore in FY23, narrowing from a loss of Rs 57 crore in FY22.

For the first nine months of FY24, it reported a revenue of Rs 633 crore and a net loss of Rs 18 crore.


Edited by Kanishk Singh