Delhi-based Awfis Space Solutions' Rs 599 crore initial public offering (IPO) has elicited an overwhelming response from investors. On the last day of bidding, the issue was subscribed 108 times. The company received bids for 93.34 crore equity shares valued at over Rs 35,751 crore against an issue size of 8.6 lakh shares. The four-day issue was subscribed 2.07 times on the first day (May 22), followed by 4.33 times on the second day, 11.45 times on the third day and 108.17 times on the last day (May 27).
The coworking space startup received a strong response from all three investor segments, especially qualified institutional buyers (QIB) and non-institutional investors (NII). The IPO was booked 116.95 times in the QIB category, 129.27 times in the NII segment and 53.23 times in the retail segment. The portion reserved for employees was subscribed 24.68 times. Awfis had reserved 75% of the issue for QIB, 15% for NII and the remaining 10% for retail investors, including employees.
The public issue by Awfis will comprise a fresh issue of equity shares valued at ₹128 crore and an offer for sale (OFS) of equity shares aggregating to ₹470.93 crore by existing shareholders. Under the OFS, Peak XV Partners Investments V (formerly known as SCI Investments V) will sell up to 6,615,586 equity shares; Bisque Ltd will offload up to 5,594,912 equity shares; and Link Investment Trust will sell up to 85,201 equity shares.
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