Awfis Space Solutions Ltd., which provides flexible workspace solutions in India, has announced to open its initial public offering (IPO) of equity shares on May 22, 2024 in the price band of ₹364 to ₹383 per equity share. Bids can be made for a minimum of 39 shares and multiples of 39 shares thereafter. The IPO will close on May 27, 2024.
The IPO comprises a fresh issue of ₹128 crore and an offer for sale (OFS) of up to 12,295,699 shares by selling shareholders. At the upper price band the OFS would fetch ₹471 crore.
The company proposes to utilise the net proceeds towards funding capital expenditure towards establishment of new centres, funding the company’s working capital requirements, and for general corporate purposes.
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