According to BSE data, as of today (Monday, May 27), the initial public offering (IPO) of co-working space company Awfis Space Solutions has been subscribed to 108.56 times. Bids for 93,68,22,510 of the 86,29,670 shares offered in the Awfis Space Solutions IPO, which opened for subscription on Wednesday, May 22, have been received, according to BSE data as of today. The retail investor part has been subscribed to 54.58 times, while the non-institutional investor quota has been subscribed to 129.81 times. There have been 116.95 subscriptions to the section designated for qualified institutional buyers (QIBs). There have been 25.20 bookings made for the employee component.
Positive Responses Roll In For Awfis Space IPO
Though the company may continue to have negative cash flows in the future and a complex business strategy, Prashanth Tapse, Research Analyst and senior Vice President of Research at Mehta Equities, noted that the Awfis Space Solutions IPO has gotten an overwhelming positive response. The company may command some listing gains because of its unique entry into the listing industry and early mover advantage. As a result, we still advise that only those who are willing to take a chance “subscribe” to Awfis Space Solution Ltd.
On Friday, the second day of bidding, the subscription status for the Awfis Space IPO was 11.41 times. Awfis Space SolutionsIPO subscription status was 4.28 times on the first day of bidding.
The IPO of Awfis Space Solutions drew a large number of retail applicants, who applied online using Google Pay, Upstox, and Zerodha, despite the fact that Thursday, May 23, was a bank holiday and SEBI was closed because of Buddha Purnima. According to BSE data, Awfis Space Solutions’ IPO subscription status was 4.28 times.
The Equity Partitions
Anchor investors contributed a little over ₹268 crore to Awfis Space Solutions’ IPO. 10% of the net offer is allocated to regular investors, 15% is reserved for non-institutional buyers, and 75% of the offer is made available to QIBs through the book-building process.
An employee reserve portion discount of ₹36 per equity share is available to bidders who are employees. The maximum value of equity shares under the employee reservation portion is ₹2 crore.
Awfis Space Solutions Ltd. offers a broad range of flexible workspace solutions for start-ups, small and medium-sized businesses, large organizations, and multinational corporations, ranging from individual flexible desk requirements to custom office spaces.
According to the company, no listed businesses in India or anywhere else have a business model and size like its own since the MA model has been implemented. Nonetheless, comparisons have been made to privately held companies such as Tablespace, Cowrks, We Work, and Smartworks.
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