WeWork India IPO GMP: Co-Working Solutions Provider's Public Issues Sees Modest Demand On First Day Of Bidding - Check Details

WeWork India IPO: Co-working solutions provider WeWork India's public issue opened for subscription on October 3. WeWork India IPO, which will close for subscription on October 7, is off to a slow start on the first day of subscription. The grey market premium (GMP) for the public issue has also dipped on the first day of subscription. Here are some key details of the public issue which applicants should know before applying for WeWork India IPO:

WeWork India IPO GMP

WeWork India's unlisted shares are commanding a GMP ranging between Rs 5 and Rs 15 per share according to multiple websites which track the demand for shares of unlisted companies. Based on the GMP of Rs 15, shares of WeWork India Ltd are likely to make a tepid market debut at Rs 663 apiece with gains of 2.31 per cent.

WeWork India IPO Subscription Update

WeWork India IPO has subscribed to 30 per cent so far on the first day of subscription, receiving applications for more than 6,82,410 shares against the 25.48 million shares set aside for the category. On the first day of subscription, retail individual investors are driving the demand for the co-working company's shares. Retail investors have booked their quota in WeWork India IPO as much as 12 per cent so far on the first day of subscription by placing bids for 5,58,463 shares against the 4.62 million shares offered for subscription.

Non-institutional investors applied for 78,407 shares compared to the 6.93 million shares set aside for NIIs. At the time of writing, qualified institutional buyers have made no bids compared to the 13.87 million shares set aside for the category. Employees of the company bid for 45,540 shares against the 59,523 shares kept aside for them, leading to the issue being booked at 77 per cent.

WeWork India IPO Offer Size, Listing Date, Price Band

WeWork India IPO issue size aggregates to Rs 3,000 crore and consists of an offer-for-sale of 46.3 million shares. WeWork India IPO price band has been fixed at Rs 615 to Rs 648 per share. Retail individual investors (RIIs) can apply for the office space solutions provider's public issue by placing bids for 23 shares or 1 lot aggregating to an investment of Rs 14,904.

WeWork India IPO will announce the share allotment status of the public issue on October 8. Successful applicants will receive shares of WeWork India in their demat accounts on October 9. Shares of WeWork India will tentatively list on the BSE and NSE. WeWork India Ltd shares will tentatively be listed on October 10.

WeWork India: Key Financials

In the fiscal year ending March 31, 2025, WeWork India's total income stood at Rs 2024 crore, rising by over 16.51 per cent compared to Rs 1737.16 crore in the preceding fiscal. WeWork India turned profitable in FY25, reporting a net profit of Rs 128.19 crore compared to net losses of Rs 135.77 crore and Rs 146.81 crore in FY24 and FY23, respectively. WeWork India's net worth also became positive in FY25 as the company posted a net worth of Rs 199.7 crore compared to a negative net worth of Rs 437.45 crore and Rs 292.11 crore in the preceding two fiscals.

WeWork India IPO: Reservation

WeWork India Ltd has set aside 74.9 per cent for the qualified institutional buyer category, 14.98 per cent for the non-institutional investor category and 9.99 per cent of the net issue for retail investors. As much as 0.13 per cent of the net issue has been set aside for employees of the company.

WeWork India IPO: Registrar

The book running lead manager for WeWork India IPO is JM Financial Ltd and the registrar for the issue is MUFG Intime India Pvt Ltd.

WeWork India: Promoters

WeWork India Ltd's include Jitendra Mohandas Virwani, Karan Virwan, and Embassy Buildcon LLP. The co-working space provider's promoters will reduce their stake in the company to 48.07 per cent post the issue from 73.56 per cent prior to the issue.

WeWork India IPO: Objective

WeWork India Ltd will not receive the proceeds of the public issue. However, the company mentioned in its red herring prospectus (RHP) that it expects the listing of its equity shares will enhance its visibility and brand and provide liquidity to existing shareholders.

About WeWork India Ltd

WeWork India Ltd is a flexible workspace operator based in India. The company caters to its clients via a range of flexible workspace solutions such as custom-designed buildings, floors and offices, enterprise office suites and hybrid digital solutions.