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Business News/ Markets / Ipo/  Kontor Space IPO: GMP, review, subscription status on day 2, other key details
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Kontor Space IPO: GMP, review, subscription status on day 2, other key details

Kontor Space IPO open for subscription with a price band of ₹93 per share and a lot size of 1200 shares.

Kontor Space IPO has opened for subscription today (Wednesday, September 27), and will close on Tuesday, October 3.Premium
Kontor Space IPO has opened for subscription today (Wednesday, September 27), and will close on Tuesday, October 3.

Kontor Space IPO has opened for subscription on Wednesday, September 27, and will close on Tuesday, October 3. Kontor IPO price band has been set at 93 per equity share of face value of 10 each. Kontor Space IPO lot size is 1200 equity shares and in multiples of 1200 equity shares thereafter. The issue price is 9.3 times of the face value of the equity shares.

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Kontor Space IPO details

Kontor IPO, which is worth 15.62 crores, is completely a fresh issue of 1,680,000 equity share; there is no offer for sale (OFS) component. Kanak Mangal and Neha Mittal are the company's promoters.

The company plans to use the net proceeds from the offering to fund the following purposes, such as paying new co-working centre rental deposits, incurring capital expenses for the fit-out of new co-working centres, and general corporate purposes.

Also Read:Vinyas Innovative IPO opens: GMP, review, subscription status on day 1, other key details

The registrar for the Kontor IPO is Cameo Corporate Services Limited, while the book-running lead manager is Srujan Alpha Capital Advisors Llp . Rikhav Securities is the market maker for the IPO of Kontor Space IPO.

Kontor Space offers "space-as-a-service" by leasing and managing commercial facilities. With the help of the technological know-how, the company hopes to encourage a culture of cooperation and productivity by providing its clients—from small-scale startups to massive conglomerates—with flexibility, convenience, and astonishing quality at a remarkably low cost.

Also Read: Kontor Space IPO: GMP, price, other details about upcoming IPO as SME issue opens tomorrow

The company generated a total income of 917.40 Lakh, 400.70 Lakh, and 390.24 Lakh in fiscal years 2023, 2022, and 2021, respectively.

As stated in the Red Herring Prospectus (RHP), there are no listed peers in India. Kontor Space's competitors having large market shares in India and considerably bigger than the company are Awfis, 91Springboard, Simpliworks, Smartworks, and CoWrks.

Also Read: E Factor Experiences IPO: GMP, subscription status on day 1, review, other key details to know

Kontor Space IPO subscription status

Kontor IPO subscription status was 6.40 times on day 2. The issue received response from retail investors who's portion set was subscribed 11.34 times, and positive response from non-institutional buyers who's portion set was subscribed 1.46 times, according to data on

The company has received bids for 1,01,94,000 shares against 1,680,000 shares on offer, according to data on

Kontor IPO subscription status was 3.11 times on day 1.

Kontor Space IPO GMP today

Kontor IPO GMP today or grey market premium is +40 lower than the previous trading session, which was +52. This indicates Kontor Space share price were trading at a premium of 40 in the grey market on Thursday, according to

Considering the upper end of the Kontor Space IPO price band and the current premium in the grey market, the estimated listing price of Kontor Space share price is 133 apiece, which is 43.01% higher than the IPO price of 93.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Kontor Space IPO Review

“Kontor Space is in a novel business of “space-as-a-service" and is happy to be a co-worker. It has posted growth in its top lines for the reported periods. FY23 performance hints at the prospects ahead and the management is confident in grabbing the opportunity with the proposed expansion. Investors may park funds for medium to long-term rewards," said Dilip Davda, the contributing editor at

Also Read: JSW Infra IPO: Issue booked over 13 times on last day so far; check GMP, should you subscribe?

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 27 Sep 2023, 03:33 PM IST
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