Awfis Space Solutions will receive Rs 268 cr from anchor investors ahead of its IPO
Awfis offers flexible workplace solutions, ranging from individual flexible office needs to tailor-made office spaces for companies.
Co-working space operator Awfis Space Solutions Ltd on Tuesday said it has mobilized a little over Rs 268 crore from anchor investors a day before the initial opening of its share sale for public subscription.
The company has allotted 70.13 lakh shares to 32 funds at Rs 383 each, which is also the upper end of the price band, according to a circular uploaded on BSE’s website.
At this price, the company 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 close 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 higher 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 Ltd and Link Investment Trust will sell shares through the OFS.
Peak
Proceeds from the new issue will be used to fund capital expenditure to set up new centers, support working capital needs and general corporate purposes.
Awfis offers flexible workplace solutions, ranging from individual flexible office needs to tailor-made office spaces for companies.
In the public issue, 75 percent of the issue size is reserved for qualified institutional bidders (QIBs), 15 percent for non-institutional investors and the remaining 10 percent for retail investors.
Investors can bid for a minimum of 39 shares and then in multiples of 39 shares.
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First print: May 21, 2024 | 11:16 PM IST