Awfis Space Solutions listing: Shares list at 14% premium at Rs 435 despite weak market momentum
Shares of Awfis Space Solutions, the workspace solutions provider, as anticipated made a decent listing on the bourses today. The company's shares on the NSE listed with a premium of 14 per cent at Rs 435.
![Awfis Space Solutions listing: Shares list at 14% premium at Rs 435 despite weak market momentum](https://cdn.zeebiz.com/sites/default/files/2024/05/30/296567-ipo.png?im=FitAndFill=(1200,900))
Awfis Space Solutions listing: Shares of Awfis Space Solutions made a decent debut on the D-Street even as the overall market sentiment continued to be cautious. On the NSE, the stock debuted at a premium of 13.58 per cent at Rs 435, while on the BSE it listed with 12.86 per cent gains over the IPO issue price of Rs 383 at Rs 432.25.
The IPO comprised a fresh share sale of Rs 128 crore and an offer-for-sale (OFS) of up to 1.22 crore shares. Promoter Peak XV Partners V and other shareholders Bisque Ltd and Link Investment Trust took part in the OFS.
The company’s IPO attracted a substantial subscription of 108.56 times.The retail investor category applied for 54.58x the subscription available to them. The non-institutional investors quota was booked 129.81 times. As for the qualified institutional buyers' (QIBs) portion, the issue was subscribed 116.95 times.
Post the issue, promoter holding in the company will be at 21.82 per cent.
Shivani Nyati, Head of Wealth, Swastika Investmart after the listing said tha the pre-listing GMP suggested a potentially higher listing gain, but it gradually declined in the days leading up to the listing, possibly reflecting a more cautious investor approach.
While not explosive, Awfis Space Solutions' listing presents a decent starting point. The strong subscription highlights the attractiveness of the co-working space market, but the company's financial situation requires ongoing monitoring, she added.
What should investors do after the listing of Awfis Space?
Investors are suggested to hold their position by keeping a stop loss at the issue price, Nyati advised.
Awfis Space Solutions- Company profile
Awfis Space Solutions offers a diverse range of flexible workspace solutions, catering to individual flexible desk needs and customized office spaces for startups, small and medium enterprises, as well as large corporates and multinational corporations. Its flexible workspace solutions accommodate various seat cohorts, from a single seat to multiple seats, available for clients to contract for periods ranging from one hour to several years.
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