Price Band fixed at Rs364 per equity share to Rs383 per equity share of face value of Rs10 each (“Equity Shares”) of Awfis Space Solutions
FinTech BizNews Service
Mumbai, May 16, 2024: Awfis Space Solutions Limited (the “Company”), largest flexible workspace solutions company in India as per CBRE report, proposes to open its initial public offering of Equity Shares (“Offer”) on May 22, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, that is, on May 21, 2024. Bid/ Offer Closing Date will be on May 27, 2024.
The Price Band of the Offer has been fixed from Rs 364 per Equity Share to Rs 383 per Equity Share. Bids can be made for a minimum of 39 Equity Shares and multiples of 39 Equity Shares thereafter.
The Offer comprises a fresh issue of up to [●] Equity Shares aggregating up to Rs 1,280.00 million (“Fresh Issue”) and an offer for sale of up to 12,295,699 Equity Shares (“Offered Shares”) aggregating up to Rs [●] million, comprising up to 6,615,586 Equity Shares aggregating up to Rs [●] million by Peak XV Partners Investments V (formerly known as SCI Investments V) (“Peak XV” or the “Promoter Selling Shareholder”), up to 5,594,912 Equity Shares aggregating up to Rs [●] million by Bisque Limited and up to 85,201 Equity Shares aggregating up to Rs [●] million by Link Investment Trust (collectively, the “Selling Shareholders” and such offer for sale of Equity Shares by the selling shareholders, the “Offer for Sale”). The Offer will constitute [●]% of the post-offer paid up equity share capital of our Company.
The Offer includes a reservation of up to [●] Equity Shares, aggregating up to Rs 20.00 million (constituting up to [●]% of the post offer paid-up equity share capital of our Company) for subscription by eligible employees (the “Employee Reservation Portion”). The Offer less the employee reservation portion is hereinafter referred to as the “net offer”. The Offer and the net offer shall constitute [●]% and [●]%, respectively, of the post-offer paid-up Equity Share capital of our Company. Our Company, in consultation with the book running lead managers, may offer a discount of up to [•]% (equivalent of Rs[●] per equity share) to the offer Price to eligible employees bidding under the employee reservation portion (“Employee Discount”).
The Company proposes to utilize the net proceeds towards funding capital expenditure towards establishment of new centers, funding the company’s working capital requirements and general corporate purposes.
The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on both BSE Limited (“BSE") and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and Emkay Global Financial Services Limited are the Book Running Lead Managers to the Offer.
