- The stock listed at Rs 435, a 14 per cent premium over its issue price of Rs 383 per share on the National Stock Exchange
- Post listing, the stock moved higher to Rs 451, up 18 per cent when compared with its issue price on the NSE and BSE
NE BUSINESS BUREAU
MUMBAI, MAY 31
Awfis Space Solutions, India’s leading provider of flexible workspace solutions, made a good stock market debut, with its shares listed at Rs 435, a 14 per cent premium over its issue price of Rs 383 per share on the National Stock Exchange (NSE) on Thursday. The stock listed 13 per cent higher at Rs 432.25 on the BSE.
Post listing, the stock moved higher to Rs 451, up 18 per cent when compared with its issue price on the NSE and BSE. At 10:06 am; the stock quoted around Rs 446 on the NSE. A combined 6.6 million equity shares changed hands on the NSE and BSE. In comparison, the benchmark indices were down 0.5 per cent.
The issue was subscribed a whopping 108.17 times. The category for qualified institutional bidders (QIBs) was subscribed 116.95 times and the allocation for non-institutional investors was booked 129.27 times. The quota reserved for retail investors was subscribed 53.23 times.
The company will use net proceeds from the IPO to fund capital expenditure for the establishment of new centre, working capital requirements and general corporate purposes.
Awfis Space offers a comprehensive range of options. These solutions cater to various needs, from individual flexible desks to customized office spaces designed for start-ups