WeWork India Shares Fall in Market Debut Amid Strong IPO Interest

WeWork India Management shares closed nearly 4% lower on their trading debut. Listed on BSE and NSE, shares initially showed promise but ended lower from their issue price. The IPO received strong interest, with 1.15 times subscription and Rs 1,348 crore garnered from anchor investors.

Shares of WeWork India Management closed nearly four percent lower on their trading debut, despite strong interest in its IPO. Listed on both BSE and NSE, the co-working space operator's shares opened at Rs 646.50 on BSE and Rs 650 on NSE, eventually sliding to Rs 624.75 and Rs 632 respectively.

The IPO, which attracted 1.15 times subscription last week, was a complete offer for sale by promoters Embassy Buildcon LLP and part of WeWork Global, 1 Ariel Way Tenant Ltd. WeWork India hopes the listing will enhance visibility and liquidity for its shareholders.

WeWork India, operating under an exclusive license from the global WeWork brand, is managed by Bengaluru's Embassy Group and boasts operations across major Indian cities. Despite the market slide, the company draws optimism from its robust presence and keen investor interest.

(With inputs from agencies.)