Awfis Space Solutions Limited Sets IPO Date for May 22, 2024

 

Mumbai: “Awfis Space Solutions Limited”, India's largest flexible workspace solutions company according to the CBRE report, is set to open its initial public offering (IPO) on May 22, 2024. The Price Band for the Equity Shares has been set between ₹364 and ₹383 per share of face value ₹10 each. The IPO will close on May 27, 2024, with the Anchor Investor Bidding Date scheduled for May 21, 2024.

IPO Details:

• Price Band: ₹364 to ₹383 per Equity Share
• Minimum Bid: 39 Equity Shares and multiples of 39 thereafter
• Offer Opening Date: May 22, 2024
• Offer Closing Date: May 27, 2024
• Anchor Investor Bidding Date: May 21, 2024

Offer Structure:

• Fresh Issue: Up to ₹1,280 million of Equity Shares
• Offer for Sale: Up to 12,295,699 Equity Shares by existing shareholders

Including:

• 6,615,586 Equity Shares by Peak XV Partners Investments V (formerly known as SCI Investments V)
• 5,594,912 Equity Shares by Bisque Limited
• 85,201 Equity Shares by Link Investment Trust

Employee Reservation and Discount:

• Employee Reservation Portion: Up to ₹20 million of Equity Shares
• Employee Discount: The company may offer a discount of up to [•]% (equivalent to ₹[●] per equity share) to eligible employees bidding under the employee reservation portion.

Utilization of Proceeds:
The net proceeds from the IPO will be utilized for:

1. Funding capital expenditure for the establishment of new centers
2. Funding the company's working capital requirements
3. General corporate purposes

The IPO constitutes a significant step for Awfis Space Solutions Limited in enhancing its market presence and financial capacity to expand operations and enhance service offerings in the flexible workspace sector.