Office Space Solutions’ IPO Set to Open: Investors Can Bid Until May 27, Minimum Offering at 14,937

The initial public offering (IPO) of Office Space Solutions Limited will open for public subscription from May 22. Retail investors can bid for this IPO until May 27.

The company aims to raise a total of ₹598.93 crore through this issue. For this, the company will issue 3,342,037 new shares worth ₹128 crore. At the same time, the company’s current investors will offer for sale (OFS) 12,295,699 shares at a price of ₹470.93.

If you’re considering investing in this IPO, here’s how much you can bid.

How much can retail investors bid at minimum and maximum amounts?

For this IPO, retail investors need to apply for a minimum of one lot, which is 39 shares. The company has fixed the IPO price band per share at ₹364-₹383. If you apply for 1 lot at the upper price band of ₹383, you’ll have to bid ₹14,937. Retail investors can bid for a maximum of 13 lots, which means 507 shares, requiring a bid of ₹194,181.

Retail investors are entitled to a 10% quota

Office Space Solutions Limited has reserved 75% of the issue for Qualified Institutional Buyers (QIBs). Additionally, approximately 10% of the shares are reserved for retail investors, and the remaining 15% are reserved for non-institutional investors (NIIs).

You can receive a premium of 19.58% on the bid

Before the IPO opens, the company’s shares reached a premium of 19.58% in the grey market, meaning they reached ₹75 per share. In this scenario, based on the upper price band of ₹383, its listing could be at ₹458.

The company will utilize this fund to expand its business

Office Space Solutions will utilize the proceeds from this IPO to expand its business. Alongside, the company will also utilize this fund to meet Moody’s requirements and fulfill general corporate objectives. Office Space Solutions provides office space for startups, SMEs, MNCs, and large corporate companies, facilitating cooperation among them.