New Delhi: The initial public offering of co-working space operator Office Space Solutions was subscribed 2 times on the first day of bidding on Wednesday.

According to NSE data, the initial share sale worth Rs 599 crore received bids for 1,74,46,143 shares, while there were 86,29,670 shares on offer.

The retail individual investors (RII) category was subscribed 6.02 times, while the non-institutional investors quota was subscribed 2.76 times. The portion of qualified institutional buyers (QIBs) received 3 per cent subscription.

The initial public offering (IPO) proposes fresh issue of up to Rs 128 crore and sale of 1,22,95,699 equity shares.

The price range for the offer has been fixed at Rs 364-383 per share.

Office Space Solutions Ltd on Tuesday said it has raised a little over Rs 26 crore from anchor investors.

This issue will end on May 27.

Promoter Peak XV Partners Investments V (formerly known as SCI Investments) along with shareholders Bisq Ltd and Link Investment Trust are selling shares through the OFS.

Peak

The proceeds from the fresh issue will be used to finance capital expenditure for setting up new centres, supporting working capital requirements and for general corporate purposes.

Awfis offers flexible workplace solutions, ranging from individual flexible desk needs to customized office spaces for corporates.

Axis Capital, Emkay Global Financial Services, ICICI Securities and IIF Securities are the managers of the offer.