WeWork IPO GMP: Co-Working Solutions Provider’s Public Issue Subscribed 8 Per Cent On Day 2 Of Bidding

WeWork IPO GMP: The public issue of WeWork India Management witnessed tepid demand on the second day of subscription. The co-working solutions provider’s public issue has been booked only 8 per cent in its two-day bidding window.

WeWork India IPO: Subscription Update

WeWork India’s initial public offering (IPO) has been booked 8 per cent across categories on the second day of subscription. Applicants cumulatively bid for 2.12 million shares compared to the 25.48 million shares offered for subscription. The co-working space operator’s public issue has been booked 31 per cent so far in the retail individual investor category. Retail investors have applied for 1.43 million shares compared to the 4.62 million shares reserved for them.

The IPO has been subscribed 5 per cent in the non-institutional investor (NII) category. They have applied for more than 336,260 shares compared to the 6.93 million shares reserved for the category. Qualified institutional buyers (QIBs( booked the issue 2 per cent, placing bids for 277,794 shares against the 13.87 million shares reserved for them. Employees of WeWork India have booked the issue 1.30 times, bidding for 77,326 shares against the 59,523 shares offered to them.

WeWork India IPO GMP

WeWork India shares are commanding a grey market premium (GMP) of Rs 5 per share. Based on the trends in GMP, the shares are expected to make a muted debut at Rs 653 per share with gains of 0.77 per cent.

WeWork India IPO: Issue Size and Price Band

The IPO has a total offer size of Rs 3,000 crore. The company plans to raise this amount through an offer-for-sale (OFS) of 46.30 million shares. The price band for WeWork India IPO has been fixed at Rs 615-648 per share. Retail investors can place bids for a minimum of 23 shares which aggregates to an investment of Rs 14,904.

WeWork India IPO: Anchor Investors

WeWork India raised Rs 1,348.26 crore from anchor investors, such as Goldman Sachs, Ashoka Whiteoak, Amundi Funds, and Allianz Global.

WeWork India IPO: Subscription Window, Listing Date, Allotment Date

The subscription window opened on October 3 and is scheduled to close on October 7. The book-building issue’s share allotment status will be decided on October 8.

After the finalisation of the share allotment status of the public issue, refunds will be initiated for unsuccessful bidders on October 9. Successful bidders will receive shares of WeWork India Management in their demat accounts on October 9 as well. WeWork India Management’s shares will be listed on the NSE and BSE, tentatively on October 10.

WeWork India Management: Key Financials

WeWork India Management’s revenue for FY25 stood at Rs 2,024 crore, up by over 16 per cent from Rs 1,737.16 crore in FY24. The company posted a net profit of Rs 128.19 crore in FY25 compared to a net loss of Rs 135.77 crore in FY24.

WeWork India IPO: Registrar

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

WeWork India Management: Promoters

WeWork India Management's promoters include Jitendra Mohandas Virwani, Karan Virwan, and Embassy Buildcon LLP. The shareholding of the promoters in WeWork India will reduce from 73.56 prior to the issue to 48.07 per cent post the issue.

WeWork India IPO: Objective

WeWork India Management will not receive the proceeds of the public issue.

About WeWork India Management

WeWork India Management is a flexible workspace operator. The company provides a variety of co-working solutions ranging from flexible workspace solutions to co-working spaces, and hybrid digital solutions.