WeWork India IPO: An Overview
WeWork India Management Ltd.’s initial public offering (IPO) is all set to open on October 3, with the company looking to raise Rs 3,000 crore through the sale of equity. The issue will close on October 7, and the allotment of shares is expected to take place on October 8. The listing date for the IPO is October 10.
IPO Details
- IPO size: Rs 3,000 crore
- Offer-for-sale (OFS) component: 4.62 crore shares of Rs 10 face value each
- Price band: Rs 615 – Rs 648 per share
- Minimum bid: Lot size of 23 shares, requiring an investment of Rs 14,904
WeWork India: A Leading Premium Flexible Workspace Operator
WeWork India is a leading premium flexible workspace operator in the country, according to a CBRE Report. The company has consistently been the largest operator by total revenue over the past three fiscals and has played a pivotal role in shaping the growth of India’s flexible workspace sector.
Growth of India’s Flexible Workspace Sector
The flexible workspace sector in India has witnessed significant growth in recent years, driven by the increasing demand for flexible and shared office spaces. WeWork India has been a key contributor to the evolution of flexible workspace products and services in the market, offering a range of services including co-working spaces, managed offices, and customized solutions for enterprises.
IPO Subscription and GMP
The IPO subscription for WeWork India opened on October 3, and as of 10:31 a.m., the issue was subscribed 0.01 times. The grey market premium (GMP) for the IPO was Rs 15 as of 09:43 a.m., with the estimated listing price expected to be around Rs 663, representing a 2.31% gain over the issue price.
Investor Interest and Participation
Retail investors can participate in the IPO by bidding for a single lot size of 23 shares, requiring an investment of Rs 14,904. Small non-institutional investors need to bid for 14 lots, amounting to an investment of Rs 2,08,656. Big non-institutional investors can participate in the IPO by bidding for a minimum of 68 lots, leading to an investment of Rs 10,13,472.
Book Running Lead Managers and Registrar
The book running lead managers for the IPO are JM Financial Ltd., ICICI Securities Ltd., Jefferies India Pvt. Ltd., Kotak Mahindra Capital Co, and 360 ONE WAM Ltd. The registrar of the offer is MUFG Intime India Private Ltd.
Conclusion
WeWork India’s IPO is an opportunity for investors to participate in the growth story of the company, which has established itself as a leading player in the flexible workspace sector in India. With a strong track record of revenue growth and a robust business model, WeWork India is well-positioned to capitalize on the increasing demand for flexible and shared office spaces in the country.
For more information on the IPO, including the prospectus, application form, and other details, investors can visit the website of the company or the stock exchange. Investors can also consult with their financial advisors or brokers to make informed investment decisions.
As the IPO market continues to witness significant activity, investors are advised to stay informed and up-to-date with the latest developments and trends in the market. With the right investment strategy and a thorough understanding of the market, investors can make informed decisions and achieve their financial goals.
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