Detailed Analysis of Awfis Space Solutions IPO Subscribed 20x On The Last Day

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[ez-toc] On Thursday, May 27th, Awfis Space Solutions Limited, a leading player in the flexible workspace solutions industry, observed strong investor interest in its Initial Public Offering (IPO). The final day of bidding marked a major milestone for the Awfis Space Solutions IPO as it was subscribed 20.4 times. Let’s take a closer look at some key points about this highly anticipated event.

Unprecedented Investor Interest on Last Day

The final day of bidding for Awfis Space Solution IPO saw an immense increase in participation by investors. A total of 176,300,000 shares were offered for sale out of which bids were received for over 86,290,000 shares or approximately 17.63 crore shares. This demand has been unprecedented and shows market’s faith in not just their current business model but also future prospects.

Key Subscription Details:

1. Total Subscription: 20.4 times
2. Qualified Institutional Buyers (QIBs): Subscribed 4.46 times
3. Non-Institutional Investors (NIIs): Subscribed 46.43 times
4. Retail Individual Investors: Subscribed 29.57 times
5. Employees: Subscribed 14.41 times

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Breakup of The Awfis Space Solutions IPO Offer

The Rs 599 crore initial public offering comprised of two parts:

1. Fresh issue worth Rs128 crore;
2. Offer-for-sale (OFS) -- wherein existing shareholders will sell up to one crore equity shares.

The price range for the offer was set at ₹364 to ₹383 per share that attracted participation from different investor classes.

Anchor Book Contributions:

Institutional investors played a crucial role in ensuring success of Awfis' IPO through anchor book allocationon May21 by contributing Rs268.6cr.. At the upper end price band of ₹383 per share a total of 7013483 shares were allocated. Key participants were:

1. Ashoka Whiteoak ICAV
2. HDFC Mutual Fund
3. ICICI Prudential Mutual Fund
4. Nippon Life India
5. Axis Mutual Fund
6. UTI Mutual Fund
7. Canara Robeco Mutual Fund
8. Quant Mutual Fund
9. Invesco India
10. Motilal Oswal MF
11. Edelweiss
12. Bandhan

About Awfis Space Solutions Limited

Awfis Space Solutions Limited is a company that was established in 2014 and has now become one of India’s largest providers for flexible workspace solutions. It provides workspaces catering to different kinds of clients such as startups, SMEs (Small Medium Enterprises) as well as MNCs (Multinational Corporations). Apart from this, the company also offers various other services like catering services or IT support etc.

Business Model & Growth:

The business model of Awfis revolves around providing affordable and flexible workspace solutions to cater to the dynamic needs of modern businesses. The company's strategic focus on innovation and customer centricity has helped it establish itself as a preferred player in the rapidly growing co-working space market.

Conclusion

The overwhelming response to Awfis’ IPO reflects high confidence levels prevailing among investors about the future growth potentialities associated with this venture. With strong participation from all categories of investors coupled with significant anchor investments made by institutional players bodes well for its prospects. Going forward, as Awfis expands its footprint pan India while enhancing service offerings further so would be its contribution towards shaping up Indian shared office industry dynamics. By subscribing to the IPO, investors have shown their trust in management’s ability to deliver immense shareholder value going forward which marks an auspicious beginning for any publicly traded organization.