WeWork India IPO Opens Soon, Price Band Set At ₹615-648 Per Share; Listing On BSE & NSE On October 10
WeWork India’s Rs 3,000 crore IPO opens on October 3 with a price band of Rs 615-648. It’s an OFS, with no fresh funds raised. Listing is on October 10.
File Image | WeWork India has announced its upcoming initial public offering (IPO).
Mumbai: WeWork India has announced its upcoming initial public offering (IPO), which will open for public subscription on October 3 and close on October 7. The price band has been fixed between Rs 615 and Rs 648 per share. This issue will be entirely an Offer-for-Sale (OFS) worth Rs 3,000 crore, meaning the company itself will not receive any funds raised.
The IPO is expected to give the company better visibility and offer liquidity to existing shareholders. The listing will take place on October 10 on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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The IPO comprises the sale of up to 4.63 crore shares by the promoter group and existing investor. Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd (a part of WeWork Global) are the ones selling their stakes. At the upper price band, the company's market value stands around Rs 8,685 crore. The company’s main goal with this IPO is to become publicly listed, not to raise new capital.
Retail investors can apply for a minimum of 23 shares, costing about Rs 14,904 at the highest price. For non-institutional investors (NIIs), small applications start from 14 lots (322 shares), and big applications go up to 68 lots (1,564 shares). The quota distribution is 75 percent for qualified institutional buyers, 15 percent for NIIs, and 10 percent for retail investors.
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Currently, the grey market premium (GMP) for WeWork India shares is reported to be zero, suggesting no expected profit on listing day. However, GMP changes daily and depends on market sentiment.
WeWork India, launched in 2017, operates under an exclusive license from WeWork Global and is promoted by the Embassy Group.
The company manages around 77 lakh sq. ft. of workspace across major cities like Bengaluru, Delhi, Mumbai, and Chennai. Of this, about 70 lakh sq. ft. is operational with a total desk capacity of over 1 lakh. The firm has over 500 employees and continues to grow in the flexible workspace segment.
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