Awfis Space IPO subscribed 4.26 times so far, GMP reached 39%, should you bet on it

Awfis Space IPO Day 2:The IPO of Office Space Solutions (Awfis Space Solutions IPO) has received a good response today on the second day, 23 May 2024. The IPO has been subscribed 419 percent so far. At the same time, it may get a stronger response from investors in the coming days. At the same time, there is a lot of activity about the IPO in the gray market. The IPO was open for investment on 22 May and it will close on 27 May. The price band for the IPO has been fixed at Rs 364-386 per share (Awfis Space IPO Price Band).

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Subscribed 4.26 times till now

Awfis Space’s IPO has been subscribed 4.26 times overall till 4:30 pm on the second day (Awfis Space Solutions Subscription). In this IPO, 10 percent share is reserved for retail investors and it has been filled 12 times so far. At the same time, 75 percent share is reserved for qualified institutional buyers i.e. QIB and it has been filled 0.32 times so far. While 15 percent share is reserved for non-institutional investors i.e. NII and it has been filled 6.66 times so far. The reserved share for employees has been filled 6.65 times.

Awfis Space IPO GMP

There is a craze in the gray market regarding office space solutions. Its premium in the gray market on the second day of IPO is Rs 150. In terms of upper price band Rs 383, this premium is 39 percent. If we look at gray market indications, this share may be listed at Rs 533 as compared to the issue price of Rs 383.

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positive with company

• Leadership in a large and growing market

• Innovating in the flexible workspace industry with the company’s adoption of the MA model

• Diverse space sourcing and demand strategies

• Development through an integrated platform approach

• Experienced and diverse senior management team

What are the risks with the company?

• The company has a history of net loss, negative earnings per share (EPS) and return on net worth (RoNW) and needs to generate and maintain increased revenues while managing its expenses to achieve this. Profitability and their inability to achieve these goals can have an adverse impact on the business.

• The company has experienced negative cash flow in the last financial year and this may continue in the future also.

• The Company enters into Space Owner Agreements to provide operations and marketing services with respect to its Managed Aggregation (MA) Centres and such Space Owner Agreements are subject to risks.

• The company has entered into Long Term Fixed Cast Lease, i.e. SL, for 1.94 million square feet. Which covers a total of 62 centers in 11 cities and 9 states and is 33.57% of the total seats till December 31, 2023. As a result of which liquidity, results of operations and cash flow may be adversely affected.

FD: Interest on FD of small finance banks ranges from 8.50 to 9.50%, how safe is it to invest money in them?

You can subscribe for listing gains

According to Master Capital Services, the India office market is expected to grow at a CAGR of 6.3% from 2023 to 2026. India’s commercial Tier 1 office stock stands at 832 million sq ft as of December 31, 2023. The company plans to continue building on the industry leading capital efficient model to retain market share and increase the percentage of operating centers and seats under the MA model. The company also intends to expand into new and existing markets by evaluating potential locations and cities based on multiple criteria. But the company has suffered losses in the last financial years. Therefore, if you want to invest for listing gains then you can subscribe to it (Subscribe Awfis Space IPO).