Shares of working space operator Awfis Space Solutions on Thursday made a decent listing at ₹435 on the NSE with a premium of 13.6 per cent against the issue price of ₹383. After hitting a high of ₹451.45 and a low of ₹415.20, the stock closed at ₹421.75, up 10.11 per cent over the IPO price. On the BSE, the stock was listed at ₹432.25 and closed at ₹419.10.
The initial public offering of Awfis Space was subscribed a whopping 108.17 times. The portion reserved for non-institutional investors was subscribed 129.27 times while the category for qualified institutional buyers was subscribed by 116.95 times and retail investors 53.23 times.
The ₹599-crore IPO came out with a price band of ₹364-383. The company had raised a little over ₹268 crore from anchor investors, including Ashoka Whiteoak, HDFC Mutual Fund, Nippon Life India, Axis Mutual Fund, Canara Rebeco Mutual Fund, Motilal Oswal, Goldman Sachs, Allianz Global Investors Fund and HSBC.
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.