WeWork India IPO Allotment: Date, Steps To Verify Status; GMP Indicates Flat Listing

Investors who bid for the WeWork India IPO can verify their share allotment status on the websites of BSE, NSE, and MUFG Intime India.

WeWork office.

The initial public Offering (IPO) of WeWork India Management concluded its subscription period on Tuesday with an overall subscription of 1.15 times. Investors bid for 2,92,68,374 shares against the 2,54,89,748 on offer, led by Qualified institutional buyers who booked their quota 1.79 times.

The allotment status for WeWork India IPO will be finalised on Wednesday, October 8.

The grey market premium for the mainboard issue has now dropped to zero, indicating a flat listing for the mainboard issue.

Investors who bid for the WeWork India IPO can check their allotment status on the websites of BSE, NSE, and MUFG Intime India.

Here's all you need to know about the WeWork India IPO, including the latest GMP and a step-by-step guide to verify allotment status.

WeWork India IPO GMP Today

The grey market premium (GMP) for the WeWork India IPO was Rs 0 as of 7:00 a.m. on October 8. This indicates a flat listing when the shares debut on the market this week. Based on the upper end of the price band at Rs 648, the stock is expected to list at the same price.

The highest GMP for the WeWork IPO was Rs 15, before it opened for subscription.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

Steps to check WeWork India IPO allotment status on BSE

  • Visit the IPO allotment page on the BSE website here: https://www.bseindia.com/investors/appli_check.aspx

  • Select 'Equity'.

  • Select the issue name 'WeWork India Management Limited' in the dropdown list.

  • Enter PAN details or Application Number.

  • Fill in the captcha details

  • Click on the 'Search' button to verify your share allotment status.

Steps to check WeWork India IPO allotment status on NSE

How To Check WeWork India IPO Allotment Status On MUFG Intime India

  • Visit the IPO allotment page on MUFG Intime India here — https://in.mpms.mufg.com/Initial_Offer/public-issues.html

  • From the dropdown menu, choose ‘WeWork India Management Limited’ as the IPO name.

  • Select one of the available identification options – PAN number, Application number or DP ID/client ID.

  • Enter the details based on the option you selected.

  • Click on the ‘Search’ button.

  • Your IPO allotment status will be displayed on the screen.

Shares of WeWork India Management Limited will be credited to the Demat accounts of successful bidders on October 9, and refunds will also be processed on the same day for non-allottees.

Shares of WeWork India Management Limited are tentatively scheduled to be listed on BSE and NSE on October 10.

WeWork India IPO: Key Details

The IPO comprises an offer-for-sale component consisting of 4.62 crore shares of Rs 10 face value each. The price band for the IPO was set between Rs 615 and Rs 648 per share.

To participate in the IPO, retail investors had to bid for a single lot size of 23 shares, which required an investment of Rs 14,904. Small non-institutional investors had to bid for 14 lots, amounting to an investment of Rs 2,08,656. Big non-institutional investors could participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,13,472.

The IPO was booked 0.04 times on Day 1 and 0.13 times on Day 2.

Promoter Embassy Buildcon LLP will be selling its shares through the OFS, according to the red herring prospectus, along with investor 1, Ariel Way Tenant.

JM Financial Ltd., ICICI Securities Ltd., Jefferies India Pvt. Ltd., Kotak Mahindra Capital Co and 360 ONE WAM Ltd. are the book running lead managers, and MUFG Intime India Private Ltd. is the registrar of the offer.

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