AWFIS SPACE SOLUTIONS IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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AWFIS SPACE SOLUTIONS Limited IPO GMP

Awfis Space Solutions is launching an IPO, with a book-built issue worth Rs 598.93 crores. This comprises a fresh issue of 0.33 crore shares, totaling Rs 128.00 crores, and an offer for sale of 1.23 crore shares, totaling Rs 470.93 crores. The IPO subscription period runs from May 22, 2024, to May 27, 2024. The allotment is expected to be finalized on Tuesday, May 28, 2024, and the shares will be listed on the BSE and NSE, with a tentative listing date of Thursday, May 30, 2024.

The price band for the shares is set at ₹364 to ₹383 per share. Retail investors must apply for a minimum of 39 shares, requiring an investment of ₹14,937. For sNII, the minimum investment is 14 lots (546 shares), amounting to ₹209,118, and for bNII, it is 67 lots (2,613 shares), amounting to ₹1,000,779.

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Ltd, and Emkay Global Financial Services Ltd are the book-running lead managers for the IPO, with Bigshare Services Pvt Ltd acting as the registrar.

Objectives of the IPO
The Offer comprises of a Fresh Issue of 3,342,037 Equity Shares, aggregating to ₹ 1,28.00 Cr. & an Offer for Sale of 12,295,699 Equity Shares aggregating to ₹470.93 Cr.

Company proposes to utilize the Net Proceeds towards

Funding capital expenditure towards establishment of new centers.
Funding working capital requirements.
General corporate purposes.

The number of operational centers has consistently grown from 58 centers at the end of FY21 to 84 in FY22 to 119 centers in FY23 and 169 centers (138 Operational centers & 31 underfit Centers) as at December 31, 2023. Now the company intend to leverage experience and expand operations by opening new centers in India. By establishing 45 new centers under the ‘Awfis’ format in Fiscal 2025, out of which (33 centers will be funded from internal accruals while balance 12 centers shall be funded from the Net Proceeds).

The new centers to be funded from the Net Proceeds shall be established in Mumbai, Bengaluru, National Capital Region of Delhi, Hyderabad, Pune, Chennai, Kolkata, Ahmedabad, Bhubaneswar, Chandigarh, Indore, Kochi, Nagpur and Jaipur.

Grey Market Premium(GMP) of AWFIS IPO
The Grey Market Premium is expected in the range of Rs. 70 to Rs. 135 based on the grwoth and performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganised manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purpose only.