WeWork India's IPO: 4% shares picked up on day 1
WeWork India's IPO opened this week but got a pretty quiet response—only 4% of shares were picked up on day one.
Out of the 2.54 crore shares up for grabs, retail investors showed the most interest, subscribing to about 14% of their allotted portion.
Who are we dealing with?
Launched in 2017 as part of Embassy Group, WeWork India runs flexible workspaces across big cities like Bengaluru, Mumbai, and Delhi.
They manage nearly 77 lakh square feet and have a team of over 500 people focused on premium flexible workspace solutions.
What do you need to know about the IPO?
This IPO is a full offer-for-sale—meaning all proceeds go to existing shareholders (mainly Embassy Group and WeWork Global).
The price range is ₹615-₹648 per share, valuing the company at up to ₹8,685 crore. Anchor investors have already chipped in over ₹1,348 crore.
The main aim? Boost visibility and make it easier for people to buy or sell shares in India's public markets.
The IPO closes on October 7, so there's still time if you're curious!