Office sharing firm Awfis Space Solutions Ltd has garnered approximately Rs 269 crore from 32 anchor investors ahead of its upcoming initial public offering (IPO), according to a filing on Tuesday.
The Delhi-based company raised Rs 144 crore from 19 domestic mutual funds, constituting a significant portion of the anchor investment.
In the anchor portion, Awfis allocated 7.01 million shares at Rs 383 apiece to investors, including renowned mutual funds such as Invesco India Multicap Fund, Axis Mutual Fund, and ICICI Prudential Housing Opportunities Fund.
Awfis had previously announced a price band of Rs 364 to Rs 383 per share for its IPO, set to commence on May 22. The offering’s total size is projected to be between Rs 576 to Rs 599 crore. The company aims to raise Rs 128 crore in fresh capital through the IPO, with an offer for sale (OFS) component comprising 12.3 million shares by investors Peak XV Partners and private equity firm ChrysCapital.
At the upper end of the price band, Awfis is valued at Rs 2,659 crore, reflecting the confidence of anchor investors in the company’s prospects.
Bidding for Awfis shares in the IPO is capped at 39 equity shares initially, with subsequent bids in multiples of 55 shares.
Shares of Awfis are scheduled to be listed on the stock exchanges on May 30. The offering reserves 75% for qualified institutional bidders (QIBs), 15% for non-institutional investors, and 10% for retail investors.
In a recent development, Awfis announced a revision to its offering, reducing the size of its fresh issue while increasing the OFS component. Peak XV Partners and ChrysCapital’s Bisque unit will now sell up to 6.6 million and 5.6 million shares, respectively. Additionally, real estate investment trust Link Investment Trust will sell 85,201 shares.
