WeWork India's Bold Listing Move: Navigating the IPO Debut

On its debut, the initial public offering (IPO) of WeWork India Management Ltd was off to a cautious start, attracting only 4% subscription on the first trading day. Today saw 11,10,440 shares bid against a total offering of 2,54,89,748 shares, according to NSE statistics.

The subscription quota for retail individual investors reached 14%, whereas categories for qualified institutional buyers and non-institutional investors were at 2% each. Meanwhile, WeWork India successfully secured over Rs 1,348 crore from anchor investors, setting the confirmation tone for its Rs 3,000-crore offering, which will close on October 7.

Priced between Rs 615 and Rs 648 per share, the IPO aims to list the brand on the stock exchange, optimistically enhancing visibility and liquidity for existing stakeholders, while creating a broader public market foothold. Notably, this IPO, structured as an offer for sale, directs proceeds to selling shareholders rather than the company.

(With inputs from agencies.)