Active Stocks
Tue May 28 2024 15:59:27
  1. Tata Steel share price
  2. 174.85 -0.37%
  1. HDFC Bank share price
  2. 1,530.50 0.17%
  1. ITC share price
  2. 428.90 -0.60%
  1. State Bank Of India share price
  2. 830.90 -0.38%
  1. Infosys share price
  2. 1,466.20 -0.37%
Business News/ Markets / Ipo/  Awfis, TBO Tek get SEBI nod for IPOs; companies plan to raise 160 crore and 400 crore, respectively
BackBack

Awfis, TBO Tek get SEBI nod for IPOs; companies plan to raise ₹160 crore and ₹400 crore, respectively

The Securities Exchange Board of India (SEBI) on April 23 gave its nod to the IPOs of Awfis Space Solutions Ltd and TBO Tek Ltd. Awfis aims to raise ₹160 crore, and TBO Tek mulls a ₹400 crore fresh issue.

Awfis' IPO includes a fresh issue totaling ₹160 crore, accompanied by an Offer For Sale (OFS) of up to 1.002 crore equity shares. (iStock)Premium
Awfis' IPO includes a fresh issue totaling 160 crore, accompanied by an Offer For Sale (OFS) of up to 1.002 crore equity shares. (iStock)

The Securities Exchange Board of India (SEBI) has given the nod to the IPOs of co-working space provider Awfis Space Solutions Ltd and online travel distribution platform TBO Tek Ltd. The companies plan to raise 160 crore and 400 crore respectively, according to exchange filings. 

Also Read | BSE SME IPO index stages a remarkable recovery to scale new highs in April

How Awfis plans to use the funds from IPO?

Awfis' IPO includes a fresh issue totaling 160 crore, accompanied by an Offer For Sale (OFS) of up to 10.02 million equity shares. The OFS consists of shares up to 5,011,586 from Peak XV Partners Investments V, around 4,936,412 shares by Bisque Limited, and approximately 75,174 shares by Link Investment Trust.

The company plans to use the proceeds for capital expenditure on new centers, bolstering working capital, and other general corporate purposes. 

Also Read | Shivam Chemicals IPO: Issue subscribed 35% so far on day 1; check GMP today, price band, other key details of SME IPO

The issue is managed by book runners ICICI Securities Limited, Axis Capital Limited, IIFL Securities, and Emkay Global Financial Services Limited, reflecting strong institutional support and confidence in Awfis’s business model and market potential.

Also Read | Multibagger IPO: BSE SME stock Khazanchi Jewellers gives 140% return to allottees in nine months

Online travel distribution platform TBO Tek’s November 2023 filing with SEBI has detailed a fresh issuance of shares worth 400 crore and an offer-for-sale (OFS) of 1.56 crore equity shares by its promoters and investors. 

Also Read | Will anchor investors desert as mega IPO lock-ins expire?

Notable selling shareholders include Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO. Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India are book running lead managers of the issue. KFin Technologies is the registrar.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Apr 2024, 02:21 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started