WeWork IPO Listing: Here's What GMP Signals As Shares Set To Debut On Dalal Street On Oct. 10
Shares of WeWork India Management Ltd., backed by Embassy Group, will be listed on the BSE and NSE on October 10. The allotment of shares was completed on October 8.
The mainboard issue was oversubscribed 1.15 times on the last day of the share sale on Tuesday, helped by strong participation from QIBs who booked their quota 1.79 times.
The Rs 3000-crore IPO received bids for 2,92,68,374 shares against 2,54,89,748 shares on offer, as per BSE data.
Ahead of its listing on Friday, there is also a buzz around the grey market premium of the IPO. The unlisted shares of WeWork India Management were trading flat at the private market, suggesting a listing at the IPO price of Rs 648 per share when the stock debuts on the market on October 10.
Here's all the latest news surrounding the listing of WeWork India shares.
WeWork IPO GMP Today
The grey market premium (GMP) for WeWork India IPO was Rs 0 on October 9. With the upper end of the price band at Rs 648, the IPO’s estimated listing price is Rs 648, implying a flat listing at the BSE and NSE.
The unlisted shares of WeWork India were trading as high as Rs 653 when the IPO opened for subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
WeWork 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 is 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, requiring 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 can 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.
