Awfis Space Solutions impresses markets with shares listing 14 per cent higher on NSE, marking a strong market debut
Awfis Space Solutions made a strong entry on the bourses this week. The company's shares were listed at Rs 435 on the National Stock Exchange (NSE), marking a 14 per cent increase from its issue price of Rs 383 per share.
Similarly, on the Bombay Stock Exchange (BSE), the stock opened 13 per cent higher at Rs 432.25.
The stock witnessed an 18 per cent surge to Rs 451, compared to its issue price on both the NSE and BSE following its listing.
Awfis Space Solutions, based in New Delhi and established in December 2014, provides workspace solutions across India. The company caters to diverse needs of individuals and large corporations, offering flexible space options.
The lead book-running managers of the initial public offering (IPO), were IIFL Securities, ICICI Securities, Axis Capital, and Emkay Global Financial Services and Bigshare Services.
Awfis Space Solutions' IPO was open for bidding between May 22 and May 27. The price band was fixed between Rs 364 to Rs 383 per share, with a lot size of 39 shares.
The company raised Rs 598.93 crore through its initial offering. This comprised a fresh share sale worth Rs 128 crore and an offer-for-sale (OFS) of up to 1,22,95,699 equity shares.
The IPO had garnered heightened investor interest during the bidding period, with a subscription rate of 108 times.
Among the various investor categories, qualified institutional bidders (QIBs) subscribed nearly 117 times, non-institutional investors subscribed 129.27 times, and retail investors subscribed 53 times their allotted quota.