WeWork IPO GMP Drops On Second Day Of Subscription; Check IPO Details
The unlisted shares of WeWork India Management were trading flat at the private market on Monday. Here's all you need to know about WeWork IPO
WeWork India Management Ltd., backed by Embassy Group, which launched its initial public offering today to raise Rs 3,000 crore through the sale of equity, received a muted response from the investors on Friday. Only 4% of the public issue was booked on the first day of subscription, with investors bidding for 11,12,257 shares against the 2,54,89,748 on offer.
The IPO has been booked 0.09 times (9%) as of 1:42 p.m. on October 6.
The grey market premium for the mainboard issue has remained constant for the last couple of days, showing modest gains over the upper end of the IPO price band.
Here is a look at the latest grey market premium (GMP) and other details of the WeWork India, including the price band, issue size, lot size and important dates.
WeWork India IPO GMP Today
The grey market premium (GMP) for the WeWork India IPO was Rs 0 as of 1:00 p.m. on October 6, 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 GMP for the mainboard issue was Rs 15 a day before, on October 2.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
WeWork India IPO: Price Band, Offer Size, Important Dates
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 is set between Rs 615 and Rs 648 per share.
The IPO of WeWork India will close for subscription on October 7.
To participate in the IPO, retail investors need to bid for a single lot size of 23 shares, requiring an investment of Rs 14,904. Small non-institutional investors need to bid for 14 lots, amounting to an investment of Rs 2,08,656. Big non-institutional investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,13,472.
Out of the 2,54,89,748 shares on offer, 1,38,71,031 shares are reserved for Qualified Institutional Buyers, 69,35,516 (14.98%) for Non-Institutional Investors, and 46,23,677 for Retail Investors.
The IPO allotment status for the WeWork India public issue is expected to be finalised on October 8. WeWork India IPO will list on BSE, NSE, with October 10 as the tentative listing date.
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.
About WeWork Management
WeWork India is a leading premium flexible workspace operator in the country, according to a CBRE Report. The company has consistently been the largest operator by total revenue over the past three fiscals and has played a pivotal role in shaping the growth of India's flexible workspace sector. It has also been a key contributor to the evolution of flexible workspace products and services in the market.
WeWork India provides flexible, high-quality workspaces to a diverse customer base that includes large enterprises, small and mid-sized businesses, startups, and individual professionals. Backed by multi-asset relationships with prominent developers across major Tier 1 cities, the company primarily leases Grade A office spaces, which it designs, builds, and operates as modern flexible workspaces.
WeWork India IPO: Financial Performance
The company’s profit for the period stood at Rs 127.4 crore, with a topline of Rs 1,949.2 crore in the financial year 2025. In FY24, the company reported a loss of 135.8 crore, as opposed to a revenue of Rs 1,665.1 crore and expenses worth Rs 1,869.9 crore. Similarly in FY23, the company reported a loss of Rs 145.9 crore, against a revenue of Rs 1,314.5 crore and expense of Rs 1,569.7 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
