Shares of Awfis Space Solutions were currently trading at Rs 448.85 at 10:20 IST on the BSE, representing a premium of 17.19% as compared with the issue price of Rs 383.
The scrip was listed at Rs 432.25, exhibiting a premium of 12.86% to the issue price.So far, the stock has hit a high of 451.45 and a low of 431.65. On the BSE, over 4.90 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Awfis Space Solutions was subscribed 108.56 times. The issue opened for bidding on 22 May 2024 and closed on 27 May 2024. The price band of the IPO was fixed at Rs 364 to 383 per share.
The offer comprised fresh issue of equity shares up to Rs 128 crore and an offer for sale of 12,295,699 equity shares.
Of the total net proceeds from fresh issue, about Rs 42.03 crore is for funding capital expenditure towards establishment of new centers and Rs 54.37 crore for funding working capital requirements and for general corporate purposes.
Awfis Space Solutions is the largest flexible workspace solutions company with presence in 52 micro markets across 16 cities in India. The company's core solution is co-working, including flexible workspaces, custom office spaces, and mobility solutions. Awfis Space Solutions also provide supporting services such as food and beverages, IT support, infrastructure services, and event hosting.
As of December 31, 2023, the company operates 169 centers, with a total of 105,258 seats and a chargeable area of 5.33 million sq. ft. Additionally, 31 centers with 25,312 seats are currently under fit-out, with a chargeable area totaling 1.23 million sq. ft.
The firm reported a net loss of Rs 18.94 crore and net sales of Rs 616.50 crore for the nine months ended on 31 December 2023.
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