WeWork India shares to debut on exchanges today
WeWork India is making its debut on the BSE and NSE today, after selling shareholders raised ₹3,000 crore through its IPO.
Shares were priced between ₹615 and ₹648, with the offer open from October 3-7.
The IPO saw moderate interest overall.
WeWork India's IPO was 1.15 times subscribed
The IPO was subscribed 1.15 times in total. Big investors (QIBs) showed solid interest at 1.79 times their quota, and employees oversubscribed theirs by 1.87 times.
But retail and non-institutional investors weren't as keen, subscribing to just 61% and 23% of their quotas.
What does WeWork India do?
Launched in 2017, WeWork India runs 68 centers with over 114,000 desks across major cities—think coworking spaces, managed offices, and flexible hybrid setups.
Backed by Embassy Group's real estate know-how and WeWork Global's brand, they're a big name in premium flexible workspaces.
What was the offer about?
The IPO offered 46.3 million shares, sold by Embassy Buildcon LLP and WeWork Global's subsidiary.