 "Awfis Space Solutions garners Rs 268 cr from anchor investors ahead of IPO")
Co-working space operator Awfis Space Solutions Ltd on Tuesday said it has mobilised a little over Rs 268 crore from anchor investors a day before its initial share-sale opening for public subscription.
The company has allotted 70.13 lakh equity shares to 32 funds at Rs 383 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.
At this price, the firm has collected Rs 268.61 crore, it added.
Those who participated in the anchor round include -- Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund (MF), ICICI Prudential MF, Axis MF, UTI MF, Aditya Birla Sun Life Insurance Company and SBI General Insurance Company.
The issue, with a price band of Rs 364-383 per share, will open on May 22 and conclude on May 27.
The proposed initial public offering (IPO) is a combination of fresh shares of Rs 128 crore and an offer for sale (OFS) of 1.23 crore shares worth Rs 471 crore at the upper end of the price band. This takes the total IPO size to Rs 599 crore.
Promoter Peak XV Partners Investments V (formerly known as SCI Investments) as well as shareholders Bisque Ltd and Link Investment Trust will offload shares through the OFS.
Peak XV holds a 22.86 per cent stake in Awfis, while Bisque and Link Investment Trust own 23.47 per cent and 0.36 per cent stake, respectively, in the company.
Proceeds from the fresh issue will be used in funding capital expenditure towards setting up new centres, supporting working capital requirements, and general corporate purposes.
Awfis provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for corporates.
In the public issue, 75 per cent of the issue size has been reserved for qualified institutional bidders (QIBs), 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
Investors can bid for a minimum of 39 equity shares and in multiples of 39 equity shares thereafter.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app