According to data from the BSE, bids were received for over 93.3 million shares as against the 8.62 million shares on offer. The retail investors category was booked 53.32 times, while for non-institutional investors it was 129.28 times. The qualified institutional buyers (QIBs) category received bids for 54 million shares, which is over 116 times the shares on offer.
The IPO included a fresh share sale of Rs 128 crore and an offer-for-sale (OFS) of up to 12.2 million shares. The company’s stock is scheduled for listing on both NSE and BSE on Thursday, May 30, 2024.
The company had previously raised nearly Rs 269 crore from anchor investors. Prominent names that subscribed to the IPO include Goldman Sachs, EastBridge Capital Master Fund, HDFC Mutual Fund (MF), and ICICI Prudential MF, among others.
Awfis had set a price band of Rs 364-383 per share, with investors able to bid for 39 shares in one lot. At the upper end of the price band, the company plans to raise around Rs 599 crore, valuing it at Rs 2,659 crore.
About 75% of the IPO was reserved for qualified institutional bidders (QIBs), 15% for non-institutional investors, and the remaining 10% for retail investors.
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Promoter Peak XV Partners and existing shareholders Bisque and Link Investment Trust are participating in the OFS. Peak XV Partners plans to offload up to 6.6 million shares, while Bisque (a ChrysCapital unit) will sell 5.6 million shares. Real estate investment trust Link Investment Trust will sell another 85,201 shares. The company had earlier reduced the size of its fresh issue while increasing the OFS component. Initially, they had planned a fresh issue of Rs 160 crore and an OFS of 10 million shares.
For the nine months ending December 2023, Awfis reported operating revenue of Rs 616 crore, and a net loss of 18.9 crore. Its operating revenue had more than doubled year on year to Rs 545 crore in the fiscal year ending March 31, 2023.
