Awfis Space Solutions’s shares—the company that provides workplace solutions—made a respectable debut on the stock exchanges today. The company’s shares were floated at a 14% premium at Rs 435 on the NSE.
Awfis Space Solutions Defies Market Slump: Shares Soar 14% to Rs 435
Listing for Awfis Space Solutions: Awfis Space Solutions Defies Market Slump
Although market sentiment remained cautious overall, shares of Awfis Space Solutions made a respectable debut on the D-Street. The stock launched at a premium of 13.58 percent on the NSE at Rs 435, and on the BSE, it listed at Rs 432.25, up 12.86 percent above the IPO issue price of Rs 383. The IPO included the selling of new shares for Rs.Crore as well as a maximum 1.22 crore share offer for sale (OFS).
Participating in the OFS were Bisque Ltd., Link Investment Trust, and promoter Peak XV Partners V.The IPO of the firm received 108.56 times as many subscriptions as it raised.54.58 times the available subscription was applied for by the retail investor category. The quota allotted to non-institutional investors was reserved 129.81 times. Regarding the section for qualified institutional buyers (QI Bs), 116.95 subscriptions were made to the issue.
The promoter’s stake in the business will be 21.82 percent following the issuance.
Following the listing, Shivani Nyati, Head of Wealth at Swastika Invest mart, stated that although the pre-listing GMP indicated a possible larger listing gain, it progressively decreased in the days preceding the listing, maybe indicating a more cautious approach Investor make contact.
The listing for Awfis Space Solutions is a good place to start, if nothing spectacular. The robust subscription indicates the commercial appeal of co-working spaces, but continued oversight of the company’s financial status is necessary, she continued.
What actions ought investors to take following Awfis Space’s listing?
Nyati recommended investors to maintain a stop loss at the issue price in order to hang onto their stake.
Awfis Space Solutions: Overview of the company
Offering a wide variety of flexible workspace options, Awfis Space Solutions can create bespoke office spaces and meet the specific demands of small and medium-sized businesses, multinational firms, startups, and major corporates. Its adaptable workplace options provide clients with the option to lease single or numerous seats for different durations spanning a few years to one hour.
(Awfis Space Solutions Defies Market Slump)
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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