The Securities Exchange Board of India (SEBI) has authorized the upcoming Initial Public Offerings (IPOs) of Awfis Space Solutions Ltd., a prominent provider of co-working spaces, and TBO Tek Ltd., a well-established online travel distribution platform. Awfis Space intends to raise Rs. 160 crore through a combination of fresh issue and an Offer For Sale (OFS) involving over 10 million equity shares. The OFS will comprise shares from existing investors such as Peak XV Partners Investments V, Bisque Limited, and Link Investment Trust. The proceeds from the IPO will be utilized for capital expenditure on new centers, strengthening working capital, and various general corporate purposes. Leading investment banks like ICICI Securities Limited, Axis Capital Limited, and Emkay Global Financial Services Limited are serving as book running lead managers for the Awfis IPO, showcasing significant institutional support and confidence in the company’s business model and growth potential.
TBO Tek, on the other hand, has outlined plans to raise Rs. 400 crore through a fresh issuance of shares alongside an OFS of 1.56 crore equity shares by its promoters and investors. Key shareholders participating in the OFS include Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO. Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India have been appointed as book running lead managers for the TBO Tek IPO, while KFin Technologies will act as the registrar. Both Awfis Space and TBO Tek aim to capitalize on the growing demand for co-working spaces and online travel services in India, respectively. The successful completion of these IPOs will not only provide the companies with access to capital for expansion but also enhance their visibility and credibility in the market.
