Awfis Space Solutions IPO: The price range for the Awfis Space Solutions Limited IPO has been set at ₹364 to ₹383 per equity share with a face value of ₹10. The subscription period for the IPO is from Wednesday, May 22, to Monday, May 27. Allocation to anchor investors is set for Tuesday, May 21. Bids can be placed for a minimum of 39 equity shares, with increments of 39 shares thereafter.
The floor price is set at 36.4 times the face value, while the cap price is 38.3 times the face value of the equity shares. According to the company’s advertisement in the Financial Express (FE), as the basic and diluted EPS for the fiscal year 2023, based on restated consolidated financial information, is negative, the P/E ratio cannot be determined. The weighted average return on net worth for fiscal years 2023, 2022, and 2021 stands at 38.60%.
The offer is conducted via the book-building process, where qualified institutional buyers (QIBs) are allocated 75% of the net offer, non-institutional buyers are allocated 15%, and retail buyers are allocated a maximum of 10%. Employees participating in the employee reserve segment are entitled to a discount of ₹36 per equity share. The employee reservation portion consists of equity shares totaling up to ₹2 crore.
Awfis Space Solutions Ltd offers a diverse range of flexible workspace solutions, catering to various needs including individual flexible desk requirements, and customized office spaces for startups, small and medium enterprises, as well as for large corporations and multinational corporations.
The company’s promoters consist of Amit Ramani, an individual promoter, and Peak XV, a promoter-selling shareholder. As of the date of this Red Herring Prospectus (May 14), the promoters collectively owned 27,444,403 equity shares, which accounts for 41.05% of the company’s pre-offer issued, subscribed, and paid-up capital for equity shares on a fully diluted basis.
Provisionally, the basis of the allotment of shares for the Awfis Space Solutions IPO is expected to be determined by Tuesday, May 28. The shares will be credited to the allottees’ demat accounts the day after the reimbursements, which will start on Wednesday, May 29. The likely listing of Awfis Space Solutions shares on the BSE and NSE is anticipated for Thursday, May 30.
Awfis Space Solutions IPO information
The Awfis Space Solutions IPO consists of a fresh issue of ₹128 crore and an offer-for-sale (OFS) of up to 12,295,699 equity shares with a face value of ₹10 each. The promoter-selling shareholder, Peak XV Partners Investments V (formerly known as SCI Investments V), plans to offload up to 6,615,586 equity shares. Additional selling shareholders comprise Bisque Ltd, planning to sell a maximum of 5,594,912 equity shares, and Link Investment Trust, expected to sell up to 85,201 equity shares, according to the RHP. The total size of the Awfis Space Solutions IPO is valued at ₹599 crore.
The company plans to utilize the net proceeds for the following purposes: capital expenditure to establish new centers (₹42.03 crore), meeting working capital requirements (₹54.37 crore), and for general corporate purposes.
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The book-running lead managers overseeing the Awfis Space Solutions IPO include ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd. The registrar appointed for the IPO is Bigshare Services Pvt Ltd.
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