SEBI Approves IPOs for Awfis and TBO Tek

SEBI Approves IPOs for Awfis and TBO Tek (Image: iStock)

VoM News Desk | April 23, 2024 | 03:11 PM IST | Breaking News | Follow on Google News

SEBI Approves IPOs for Awfis and TBO Tek

SEBI Approves IPOs for Awfis and TBO Tek

The Securities Exchange Board of India (SEBI) has greenlit IPOs for co-working space provider Awfis Space Solutions Ltd and online travel distribution platform TBO Tek Ltd. Awfis aims to raise ₹160 crore, while TBO Tek targets ₹400 crore, as per exchange filings.

Awfis plans to allocate the IPO proceeds for expanding new centers, reinforcing working capital, and general corporate purposes. The IPO includes a fresh issue of ₹160 crore and an Offer For Sale (OFS) of up to 10.02 million equity shares.

Managed by book runners like ICICI Securities Limited and Axis Capital Limited, Awfis’s IPO reflects strong institutional backing and confidence in its business model. Similarly, TBO Tek’s IPO outlines 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, with notable selling shareholders including Gaurav Bhatnagar and Manish Dhingra. Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India are lead managers for TBO Tek’s IPO.

Source: Mint

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