WeWork India Management Ltd’s initial public offering (IPO) reached 13% subscription on the second day of bidding, Monday. As per investorgain.com, the WeWork India IPO grey market premium (GMP) stood at ₹0, indicating that shares were trading at their issue price of ₹648 without any premium or discount.
The company has already secured over ₹1,348 crore from anchor investors. The ₹3,000 crore IPO will close on Tuesday, with a price band set at ₹615 to ₹648 per share, valuing the company at roughly ₹8,685 crore at the upper band.
Founded in 2017 and backed by Bengaluru-based Embassy Group, WeWork India operates under an exclusive brand license from WeWork Global. It manages 77 lakh sq ft of space across Tier-1 cities like Bengaluru, Mumbai, Hyderabad, Chennai, Delhi, Noida, Pune, and Gurugram, with 70 lakh sq ft operational and a capacity of 1.03 lakh desks. The company employs over 500 people.
IPO Review:
Anand Rathi Research highlights WeWork’s focus on strengthening its footprint in current markets, targeting high-demand areas, and deepening ties with large enterprises, which contributed 60.6% of Q1 FY26 Net Membership Fees.
Subscription Status (Day 3):
Overall: 42%, Retail: 50%, NII: 9%, QIB: 55%, Employee: 1.65 times.
IPO Details:
This is a complete Offer for Sale (OFS) of 4.63 crore shares by Embassy Buildcon LLP and Ariel Way Tenant Ltd. Proceeds will go to the selling shareholders. JM Financial is the lead manager, and MUFG Intime India is the registrar.
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