Business News | Kontor Space Limited IPO Opens on 27th September, 2023

PNN

Mumbai (Maharashtra) [India], September 25: Kontor Space Limited specializes in using technology to offer collaborative and productive "space-as-a-service" solutions, has announced its plans to go public with an Initial Public Offering on 27th September 2023. The company is aiming to raise ₹ 15.62 Crores at the fixed price of ₹ 93 through this IPO, with shares set to be listed on the NSE EMERGE platform.

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The issue size is Up to 16,80,000 equity shares at a face value of ₹ 10 each. 

Equity Share Allocation

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- Non-Institutional Investors (NII) – Up To 7,96,800Equity Shares

- Retail Individual Investors (RII) – Up To 7,96,800 Equity Shares

- Market Maker – 86,400 Equity Shares

The net proceeds from the IPO will be utilized to make the payment of Rental Deposits of new co-working centres, Capital Expenditure for fit-outs of new co-working centres and for General Corporate Purposes. The issue closes on 29th September 2023.

The Lead Manager to the Issue is Srujan Alpha Capital Advisors LLP. The Registrar to the Issue is Cameo Corporate Services Limited.

Kanak Mangal, Promoter of Kontor Space Limited, said, “As we announce the Initial Public Offering of Kontor Space Limited, it represents our dedication to pushing the boundaries in the 'space-as-a-service' sector. We have always strived to redefine the domain with innovative and technology-driven solutions.

The capital from this IPO will empower us to expand and refine our services, ensuring we continue to meet the evolving needs of the industry and our clients. We remain steadfast in our mission to set new benchmarks in the co-working industry."

Jinesh Doshi, Founding Partner of Srujan Alpha Capital Advisors LLP said, "Kontor Space, with its forward-thinking approach in the 'space-as-a-service' sector, has demonstrated tremendous potential for growth and innovation. The IPO not only signifies their market maturity but also ushers in a new era of expansive opportunities. 

With its impressive capabilities, Kontor Space will continue to exceed expectations and skilfully meet the diverse needs of its clientele."

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