Awfis Space Solutions IPO Allotment Status

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 28th May 2024 - 03:02 pm

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About the Awfis Space Solutions IPO

The IPO of Awfis Space Solutions was open from May 22nd, 2024 to May 27th, 2024; both days inclusive. The stock of Awfis Space Solutions has a face value of ₹10 per share and the price band for the book building IPO has been set in the range of ₹364 to ₹383 per share. The Awfis Space Solutions IPO will be a combination of a fresh issue of shares and offer for sale (OFS) component. The fresh issue brings in funds into the company, but is also EPS and equity dilutive. On the other hand, OFS is just a transfer of ownership. The fresh issue portion of the IPO of Awfis Space Solutions comprises the issue of 33,42,037 shares (33.42 lakh shares approximately), which at the upper price band of ₹383 per share will translate into a fresh issue size of ₹128 crore. 

The offer for sale (OFS) portion of the IPO of Awfis Space Solutions comprises the sale / offer of 1,22,95,699 shares (122.96 lakh shares approximately), which at the upper price band of ₹383 per share will translate into an OFS size of ₹470.93 crore. Out of the OFS size of 122.96 lakh shares, 1 promoter shareholder Peak XV Partners Investments will offer (66.16 lakh shares). Out of the 2 other selling shareholders, Bisque Limited will offer (55.95 lakh shares), and Link Investment Trust will offer (0.85 lakh shares). Thus, the total IPO of Awfis Space Solutions will comprise of a fresh issue and an OFS of 1,56,37,736 shares (156.38 lakh shares approximately) which at the upper end of the price band of ₹383 per share aggregates to total issue size of ₹598.93 crore. The IPO of Awfis Space Solutions will be listed on the NSE and the BSE on the IPO mainboard.

The fresh funds will be used for funding capex of new centres, and for working capital requirements. The company has been promoted by Amit Ramani and Peak XV. The IPO will be lead managed by ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global Financial Services; while Bigshare Services Private Ltd will be the IPO registrar.

Checking the allotment status of Awfis Space Solutions IPO on BSE website

This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below 

https://www.bseindia.com/investors/appli_check.aspx 

Once you reach the page, here are the steps to follow.
• Under Issue Type – Select Equity Option
• Under Issue Name – Select Awfis Space Solutions from the drop down box
• Enter the Application Number exactly as in the acknowledgement slip
• Enter the PAN (10-digit alphanumeric) number
• Once this is done, you need to click on the Captcha to verify that you are not a robot
• Finally click on the Search Button

In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters. You can either input the application number or you can input your PAN.

Once the data is inputted and the captcha verification is done, the allotment status will be displayed on the screen in front of you informing about the number of shares of Awfis Space Solutions allotted into your demat account. It is suggested that you take a screenshot of this output page and store for future reference. You can verify the demat credit by the close of 29th May 2024.

Checking the allotment status of Awfis Space Solutions on the website of Bigshare Services Private Limited (Registrar to IPO)

Visit the Bigshare Services registrar website for IPO status by clicking on the link below:

https://www.bigshareonline.com/ipo_Allotment.html

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Bigshare Services Private Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Here you are given the choice to select 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 3 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select.

This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Awfis Space Solutions from the dropdown box. The allotment status will be finalized on 28th May 2024, so in this case, you can access the details on the registrar website either late on 28th May 2024 or by middle of 29th May 2024. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO.

• Firstly, you can access with Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip.

• Secondly, you can search by Beneficiary ID of your demat account. From the dropdown box, you must first select the depository name where the account is held i.e. NSDL or CDSL. In the case of NSDL, enter the DP id and Client id in separate boxes as provided. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is numeric. After that you can click the Search Button in both cases.

• Thirdly, you can also search by Income Tax PAN number. Once you select PAN from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.
The IPO status with number of shares of Awfis Space Solutions allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 29th May 2024. The stock of Awfis Space Solutions will appear in the demat account under the ISIN Number (INE108V01019).

Subscription status of Awfis Space Solutions IPO

One of the key determinants of your allotment is the extent of subscription for various categories. Here is the final subscription status of the Awfis Space Solutions IPO as at close on 27th May 2024, at 17.30 hours.

Investor 
Category

 
Subscription 
(times)

 
Shares 
Offered

 
Shares 
bid for

 
Total Amount 
(₹ in Crore)

 
Anchor Investors 1.00 70,13,483 70,13,483 268.62
Employee Quota 24.67 57,636 14,22,135 54.47
QIB Investors 116.95 46,75,656 54,68,35,497 20,943.80
HNIs / NIIs 129.27 23,37,827 30,22,21,530 11,575.08
Retail Investors 53.23 15,58,551 8,29,56,783 3,177.24
Total 108.17 86,29,670 93,34,35,945 35,750.60

Data Source: BSE

The issue was open for QIBs (qualified institutional buyers), retail investors and for the HNI / NIIs. There was a broad quota designed for each of the segments viz. the QIBs, the retail and the HNI NII. The table below captures the allocation reservation done for each of the categories.

Category of Investors Allocation of shares under IPO
Reservation for Employees  57,636 shares (0.37% of the total IPO offer size)
Anchor Allocation 70,13,483 shares (44.84% of the total IPO offer size)
QIB Shares Offered 46,75,656 shares (29.89% of the total IPO offer size)
NII (HNI) Shares Offered 23,37,827 shares (14.94% of the total IPO offer size)
Retail Shares Offered 15,58,551 shares (9.96% of the total IPO offer size)
Total Shares Offered 1,56,43,153 shares (100.00% of total IPO offer size)

Data Source: BSE

The response to the IPO of Awfis Space Solutions was strong overall, and it was also quite strong for the retail portion and the HNI portions. The retail subscription of 53.23 times gives a rather low opportunity of allotment in the IPO. However, the investors can still be hopeful since the SEBI norms on retail IPO allotment focuses on trying to allot the basic lot size to as many unique investors as possible. The same can be checked using the allotment checking modus operandi explained above. You just need to wait for the basis of allotment to be finalized on 28th May 2024 and then the actual picture will be clear to you.

Next steps after the closure of the Awfis Space Solutions IPO

The issue opened for subscription on 22nd May 2024 and closed for subscription on 27th May 2024 (both days inclusive). The basis of allotment will be finalized on 28th May 2024 and the refunds will be initiated on 29th May 2024. In addition, the demat credits are expected to also happen on 29th May 2024 and the stock will list on 30th May 2024 on the NSE and the BSE. Awfis Space Solutions Ltd will test the appetite for private sector new age realty stocks in India. The credits to the demat account to the extent of shares allotted will happen by the close of 29th May 2024 under ISIN (INE108V01019).

Investors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very high in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.
 

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