Awfis Space Solutions Shares Surge 9% on Market Debut

Shares of Awfis Space Solutions closed over 9% higher at Rs 419.10 on their debut trading day. The IPO was initially priced at Rs 383 per share and listed at a premium of 12.86% on BSE. The company plans to use the IPO proceeds to fund new centers and corporate purposes.

Shares of working space operator Awfis Space Solutions on Thursday closed higher by over 9 per cent at Rs 419.10 apiece in the debut trade on Thursday. The stock listed at a premium of 12.86 per cent at Rs 432.25 against the issue price of Rs 383 on BSE. The stock moved between a high of Rs 451.45 and a low of Rs 409.40 during the day. Around 9.59 lakh shares were traded on the bourse. On the NSE, Awfis Space Solutions shares climbed 9.2 per cent to settle at Rs 415.95 per piece. In volume terms, 1.36 crore equity shares were traded on the NSE.

At close, Awfis Space Solutions' market valuation stood at Rs 2,909.38 crore on the BSE. The market capitalisation of the company stood at Rs 2,887.51 crore on the NSE.

The 30-share BSE Sensex plunged by 617.30 points to settle at 73,885.60, while the broader NSE Nifty dropped by 216.05 points to close at 22,488.65.

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.

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