Awfis Space Solutions' IPO to open on May 22, at Rs 364-383 per share

Flexible workspace solutions company Awfis Space Solutions Ltd on Thursday fixed a price band of Rs 364-383 per share for its Rs 599 crore initial public offering.

The company's maiden public issue will open on May 22 and conclude on May 27 and the bidding for anchor investors will open for a day on May 21, according to a statement.

Awfis Space Solutions' proposed initial public offering (IPO) is a combination of fresh issue shares to the tune 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) and shareholders Bisque Limited and Link Investment Trust will offload shares in the OFS.

At present, Peak XV holds 22.86 per cent stake in Awfis Space Solutions, 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 would be used towards funding capital expenditure towards setting-up new centres, supporting working capital requirements, and general corporate purposes.

The company said that 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.

Awfis Space Solutions provides a wide spectrum of flexible workspace solutions ranging from individual flexible desk needs to customised office spaces for startups, small and medium enterprises as well as for large corporates and multi-national corporations.

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the book-running lead managers to the public issue.
 

GP Eco Solutions eyes Rs 35 crore via public offer
 

GP Eco Solutions India Limited (GPES) is planning to raise up to Rs 35 crore through an initial public offering (IPO) which is expected to hit the markets by month-end, its CEO Deepak Pandey said on Thursday. The proceeds will be utilised to fuel the company's expansion plans and support working capital requirements, he said in a media interaction.
 

The proposed IPO will comprise a fresh issuance of 3.276 million equity shares with a face value of Rs 10 each. Through the issue, 

the promoters will dilute about 25 per cent stake in the company.