Office Space Solutions’ IPO opens on May 22, 2024. Investors can invest in this IPO till May 27. The shares of the company will be listed on BSE and NSE.
New Delhi. The IPO of Office Space Solutions, a company that provides workspace solutions, opened yesterday, May 22. The issue is receiving strong support from investors. The IPO was filled 2.07 times on the first day. Retail investors are investing heavily in this IPO. The portion reserved for retail investors was filled 6.26 times on the first day. Similarly, the reserve share for institutional buyers (QIB) was 0.30 times and 2.79 times for non-institutional investors, which was filled on the first day. Investors can bid for the IPO shares till May 27. Shares of this IPO are also trading at a premium of 39 percent in the gray market.
75 per cent of the shares in the Office Space Solutions IPO have been reserved for qualified institutional buyers (QIBs). 15 percent is earmarked for non-institutional investors and 10 percent for retail investors. Through this issue, the company wants to raise Rs 599 crore from the market. Fresh equity shares worth Rs.128 crore have been issued under the IPO. Apart from this, shares worth Rs 470.93 crore will be sold under Offer for Sale (OFS).
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You can get listing benefit of Rs.150 per share.
With aggressive bidding from investors, the Office Space Solutions IPO shares are also getting strong support in the gray market. The gray market value of unlisted shares of IPOs continues to rise. According to IPO Watch, a website that monitors the gray market, shares of the Office Space IPO are trading at a premium of Rs 150 on Thursday. This means that investors can get 39 percent listing. Five days ago today i.e. on May 19, the GMP was Rs.75.
Investors investing in IPOs should note that it is not necessary that the IPO shares be listed on the stock market as per GMP. GMP varies and it is also possible that shares in an issue which are trading at a premium in the gray market may be listed at a discount in the market.
The price band is Rs 364-383.
The company has fixed a price band of Rs 364-383 per share for the issue. Investors can bid for a minimum of 39 equity shares and multiples thereof. According to the upper price band, retail investors have to invest a minimum of Rs 14,937.
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First Publication: May 23, 2024, 10:42 IST
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