WeWork India's IPO Success: A New Chapter Unfolds

WeWork India Management Ltd's IPO garnered 1.15 times subscription, driven by institutional interest. The Rs 3,000-crore offering saw significant involvement from institutional buyers. Set at Rs 615-648 per share, the issue was entirely an offer for sale, benefiting the selling shareholders. It aims to enhance visibility and provide liquidity.

WeWork India Management Ltd's initial public offering (IPO) concluded successfully, surpassing expectations with a 1.15 times subscription rate, primarily fueled by institutional buyers. The Rs 3,000-crore share sale saw bids for 29,268,328 shares against the 25,489,748 shares on offer.

Qualified Institutional Buyers (QIBs) subscribed 1.79 times of their reserved portion, while the Retail Individual Investors (RIIs) subscribed 61 percent of their allocation. Non-institutional investors participated less, with only a 23 percent subscription rate for its allocated portion.

The IPO, priced between Rs 615 and Rs 648 per share, did not channel proceeds to WeWork India since it was an offer for sale (OFS), aiding selling shareholders instead. The listing is anticipated to enhance WeWork India's market visibility and provide liquidity to existing stakeholders.

(With inputs from agencies.)