Awfis Space Solutions Shares Soar Over 13% at Market Debut

Awfis Space Solutions shares were listed with a premium of over 13% against the issue price, reflecting positive investor sentiment during its market debut. The stock price saw notable increases on both NSE and BSE. The IPO was significantly oversubscribed and aims to fund new centers, working capital, and corporate needs.

Shares of working space operator Awfis Space Solutions got listed on Thursday, with a premium of over 13 per cent against the issue price of Rs 383, even as the overall market sentiment continued to be cautious.

The stock began the trade at Rs 435, up 13.58 per cent from the issue price on the NSE. It later climbed 15.68 per cent to Rs 447.80.

On the BSE, it listed at Rs 432.25, reflecting a jump of 12.86 per cent.

The company's market valuation stood at Rs 3,108.61 crore on the NSE. On the BSE, its market capitalisation (mcap) stood at Rs 3,080.50 crore.

The initial public offering (IPO) of co-working space operator Awfis Space Solutions got subscribed a whopping 108.17 times on the closing day of the share-sale on Monday.

The Rs 599 crore initial share sale had a price band of Rs 364-383 per share.

Proceeds from the fresh issue will be used in funding capital expenditure towards setting up new centres, supporting working capital requirements, and general corporate purposes.

Awfis provides flexible workspace solutions, ranging from individual flexible desk needs to customised office spaces for corporates.