Awfis Area Options IPO subscribed 4.26 instances on Day 2, retail portion booked 12x

Awfis Area Options’ IPO kicked off with a promising begin on the second day of bidding on Might 23 because it was oversubscribed 4.26 instances. The provide acquired bids for 3.67 crore shares as in opposition to the 86.29 lakh shares on provide.

The Rs 599-crore IPO consists of contemporary issuance of shares value Rs 128 crore and an offer-for-sale (OFS) of 1,22,95,699 fairness shares by present shareholders. The worth band for the difficulty is ready at Rs 364-383 per share.

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Retail traders displayed the very best curiosity, subscribing 12.22 instances their allotted quota. Non-institutional traders, or excessive internet value people, bought 6.79 instances their reserved portion. Certified institutional consumers (QIBs) acquired 32 p.c of the reserved portion, whereas the part allotted for workers was oversubscribed 6.77 instances.

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Institutional traders contributed Rs 268.6 crore by way of the anchor guide on Might 21, with 70,13,483 fairness shares allotted to them at Rs 383 per fairness share. Ashoka Whiteoak ICAV, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Axis Mutual Fund, UTI Mutual Fund, Canara Robeco Mutual Fund, Quant Mutual Fund, Invesco India, Motilal Oswal MF, Edelweiss, and Bandhan Mutual Fund participated within the anchor guide.

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Established in 2014, Awfis Area Options Restricted makes a speciality of providing workspace options throughout India. It caters to startups, SMEs, and huge corporates, offering versatile workspace choices together with ancillary providers resembling catering, IT help, and infrastructure assist.

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