Investors subscribe Awfis Space Solutions IPO 108.17 times the offer size

The initial public offer of co-working space operator Awfis Space Solutions got subscribed a whopping 108.17 times on the closing day of subscription on Monday, amid heavy participation from institutional investors.

The Rs 599 crore initial share sale received bids for 93,34,36,374 shares against 86,29,670 shares on offer, according to data available with the NSE.

The portion for non-institutional investors fetched 129.27 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 116.95 times. The quota for Retail Individual Investors (RIIs) attracted 53.23 times subscription.

The initial public offer (IPO) of fresh issue of up to Rs 128 crore and offer for sale of up to 1,22,95,699 equity shares began for bidding on Wednesday.

 

The price range for the IPO is Rs 364-383 per share.
 

The IPO of Awfis Space Solutions was fully subscribed on the first day of bidding on Wednesday.

Awfis Space Solutions Ltd on Tuesday said it has mopped up a little over Rs 268 crore from anchor investors.

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.

Axis Capital, Emkay Global Financial Services, ICICI Securities and IIFL Securities are the managers to the offer.
 

HSBC Asset Management settles MF violation case
 

HSBC Asset Management (India), its indepe­n­d­ent directors Jasmine Batliwala and Nani Javeri, and two others have paid markets regulator Sebi nearly Rs 24 lakh to settle a case related to an alleged violation of mutual fund rules in the matter of HSBC Mutual Fu­nd. The settlement fee was paid by the entities on a joint and several liablity basis.

Sebi widens SROs for social impact assessor 
 

The Securities and Exchange Board of India (Sebi) has identified self-regulatory organis­a­t­i­ons (SROs) for social impact assessment of entities listed on the social stock exchange (SSE). Under the SSE framework, non-profit organisations can raise funds for social causes. At present, individuals who have qualified the certification by National Institute of Securities Market and registered with SRO under Institute of Chartered Accountants in India can be social impact assessors.

Sebi has now also identified ICMAI Social Auditors Organization (ICMAI SAO) under the Institute of Cost Accountants of India and ICSI Institute of Social Auditors (ICSI ISA) under the Institute of Company Secretaries of India as SROs for assessing social impact of entities on SSE. Further, Sebi has directed already listed non-profit organisations to submit Annual Impact Report to SSE by October 31 for the financial year 2023-24.