Market Performance
The Indian stock market observed focused activity around IPO listings, with WeWork India Management Ltd’s public offer drawing notable attention. The company’s initial public offer (IPO) recorded 16% subscription on the third day of bidding, highlighting selective investor interest as the Rs 3,000-crore issue heads toward conclusion.
Retail investors were especially active, subscribing nearly half of the allotted retail quota, while institutional segments recorded modest participation.
WeWork India IPO Subscription Details
The IPO has received bids for 40,06,439 shares against the total 2,54,89,748 shares on offer, as per NSE data. Key subscription details include:
- Retail Individual Investors (RIIs): 45% subscribed
- Qualified Institutional Buyers (QIBs): 9% subscribed
- Non-Institutional Investors (NIIs): 8% subscribed
The IPO is priced between ₹615 and ₹648 per share, placing WeWork India’s valuation at around ₹8,685 crore at the upper range.
Since the IPO is an Offer for Sale (OFS), proceeds from the issue will go entirely to the selling shareholders, including promoter group Embassy Buildcon LLP and investor Ariel Way Tenant Ltd (part of WeWork Global).
Currently, Embassy Group holds 76.21% in WeWork India, while WeWork Global owns 23.45%.
Company Details
Founded in 2017, WeWork India operates under an exclusive license of the WeWork brand in India, promoted by Bengaluru-based Embassy Group. The company has steadily expanded across Tier-1 cities:
- Cities: Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, Chennai
- Total space managed: 77 lakh sq ft, with 70 lakh sq ft operational
- Desk capacity: 1.03 lakh
- Employees: Over 500
The IPO is a pure offer for sale (OFS), meaning it won’t raise new capital for the company’s operations. Its primary goal is to boost visibility, offer liquidity to existing shareholders, and create a public market for WeWork India’s shares in the country.ia.
Anchor Investors
WeWork India has successfully secured a little over ₹1,348 crore from anchor investors ahead of the IPO close, demonstrating confidence from large investors.
Summary
WeWork India’s IPO has shown moderate early subscription, with retail investors leading the activity. As the Rs 3,000-crore offer heads to conclusion, market watchers will focus on final subscription numbers and listing performance. The company’s presence across multiple Tier-1 cities and operational scale positions it well in India’s co-working space market.
Keywords for SEO: WeWork India IPO, stock market today, WeWork India subscription, Embassy Group WeWork, OFS IPO India, co-working IPO
Easy & quick
Leave A Comment?