Unlisted shares of Awfis Space Solutions Ltd are trading Rs 129 higher in the grey market, expecting a 33.68 per cent listing gain from the public issue
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Awfis Space Solutions IPO Allotment Today: Flexible workspace solutions company Awfis Space Solutions Ltd received a whopping 108.17 times subscription in its initial public offering. Investors will on May 28 start getting bank debit messages in the evening once they are allotted the IPO. The IPO status can be checked on registrar Bigshare Services Pvt Ltd’s portal and the websites of BSE and NSE.
The Rs 598.93-crore IPO was opened for public subscription between May 22 and May 27.
Awfis Space Solutions IPO: How To Check Allotment Status
The Awfis Space Solutions IPO allotment will likely be finalised on May 28, while its listing will take place on both BSE and NSE on May 30.
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Awfis Space Solutions Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — https://www.bigshareonline.com/ipo_Allotment.html and check the Awfis Space Solutions IPO allotment status.
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Awfis Space Solutions IPO GMP Today
According to market observers, unlisted shares of Awfis Space Solutions Ltd are trading Rs 129 higher in the grey market as compared with its issue price. The Rs 129 grey market premium or GMP means the grey market is expecting a 33.68 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The price of the Awfis Space Solutions was fixed at a price band of Rs 364-383 per share.
Investors needed to apply for a minimum of 39 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 14,937 [39 (lot size) x Rs 383 (upper price band)].
Awfis Space Solutions IPO: More Details
Awfis Space Solutions’ proposed initial public offering (IPO) is a combination of fresh issue shares to the tune of Rs 128 crore and an offer for sale (OFS) of 1.23 crore shares worth Rs 471 crore at the upper end of the price band. This takes the total IPO size to Rs 599 crore. Promoter Peak XV Partners Investments V (formerly known as SCI Investments) and shareholders Bisque Limited and Link Investment Trust will offload shares in the OFS.
At present, Peak XV holds 22.86 per cent stake in Awfis Space Solutions, Bisque and Link Investment Trust own 23.47 per cent and 0.36 per cent stake, respectively, in the company. Proceeds from the fresh issue would be used towards funding capital expenditure towards setting-up new centres, supporting working capital requirements, and general corporate purposes.
The company said that 75 per cent of the issue size has been reserved for qualified institutional bidders (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Investors can bid for a minimum of 39 equity shares and in multiples of 39 equity shares thereafter.
Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises as well as for large corporates and multi-national corporations.
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ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the book-running lead managers to the public issue.
