Kontor Space IPO Listing: Kontor Space Ltd made a strong debut on Dalal Street Tuesday. Kontor Space shares were listed at ₹122.00 apiece on the NSE SME, a premium of 31.18% to the issue price of ₹93 per share.

Kontor Space Ltd is a provider of office space for rent. The company customizes and manages commercial properties in Maharashtra and serves domestic and international clients from four locations.

Kontor Space recently concluded its initial public offering (IPO) raising ₹15.62 crore.

Kontor Space IPO was entirely a fresh issue of 16.8 lakh shares at a fixed price of ₹93 per share.

Kontor Space IPO opened for bidding on September 27 and ended on October 3. The IPO share allotment was finalized on Thursday, October 5, 2023.

The IPO received strong response from investors as the issue was subscribed 70.97 times. The public issue received 95.49 times subscription in the retail category and 41.87 times in the Other category.

Srujan Alpha Capital Advisors Llp is the book running lead manager of the Kontor Space IPO, while Cameo Corporate Services Ltd is the IPO registrar.

The company plans to use the net proceeds from the offering to make the payment of rental deposits of new co-working centers, incurring capital expenses for the fit-out of new co-working centres and general corporate purposes.