**IPO GMP 18 May 2024: Exciting News Alert! šš°**
The much-awaited IPO of Office Space Solutions Limited is set to open on May 22. The price range for the IPO has been set at ā¹364-383 per share, with a lot size of 39 shares. (Part of Office Space Solutions Limited)
The company aims to raise ā¹598.93 crore through the IPO. The IPO will open for investors on May 21 and the shares will be listed on BSE and NSE on May 30. The company was founded in December 2014.
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, and MK Global Financial Services Limited are the lead managers for the IPO.
Bigshare Services Private Limited is the registrar for this issue. Office Space Solutions provides tailored workspace solutions for various organizations, catering to the needs of individual desks, startups, SMEs, and large companies.
In the Office Space Solutions IPO, 33 lakh new shares worth ā¹128 crore will be issued. An offer of ā¹470.93 crore worth of 1.23 crore shares will also be made. The promoter of the company is Amit Ramani, who holds 18.19% stake in the company.
Experienced venture capital firm Peak XV Partners V holds 22.86%, Chirrs Capital Unit Bisc 23.47%, QRG Investments and Holdings 9.58%, VBAP Holdings 9.35%, and experienced investor Kaholia holds 50% stake in the company.
In the grey market, shares of the company are trading at a premium of ā¹80 or 20.89% above the upper price band of ā¹383. The grey market is an unofficial market where shares of a company are traded until they are listed on the stock exchange.
75% of the shares in the Office Space Solutions IPO are reserved for institutional buyers, 10% for retail investors, and 15% for non-institutional investors.
The company has reserved up to ā¹2 crore worth of shares for its employees. During April-December 2023, Office Space Solutions recorded a revenue of ā¹633.69 crore and a net profit of ā¹18.94 crore.
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