The Securities Exchange Board of India (SEBI) has approved the initial public offerings (IPOs) of two companies: Awfis Space Solutions Ltd, a co-working space provider, and TBO Tek Ltd, an online travel distribution platform. Awfis aims to raise ₹160 crore through its IPO, while TBO Tek plans to raise ₹400 crore, according to filings with the exchanges.
**Awfis Space Solutions Ltd:**
– Awfis’ IPO comprises a fresh issue of ₹160 crore and an Offer For Sale (OFS) of up to 10.02 million equity shares.
– The OFS includes shares from Peak XV Partners Investments V, Bisque Limited, and Link Investment Trust.
– Proceeds from the IPO will be utilized for capital expenditure on new centers, strengthening working capital, and other general corporate purposes.
– The issue is managed by book runners including ICICI Securities Limited, Axis Capital Limited, IIFL Securities, and Emkay Global Financial Services Limited, indicating strong institutional support and confidence in Awfis’s business model and market potential.
**TBO Tek Ltd:**
– TBO Tek’s filing with SEBI 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.
– Prominent selling shareholders include Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO.
– The IPO is being managed by book running lead managers including Axis Capital, Goldman Sachs (India), JM Financial, and Jefferies India.
– KFin Technologies is appointed as the registrar for the IPO.
Both companies are leveraging the IPO route to raise capital for expansion, working capital requirements, and other corporate purposes. The strong institutional backing and the strategic use of proceeds reflect confidence in the growth prospects of Awfis and TBO Tek in their respective sectors.
