WeWork India IPO: A Comprehensive Overview
WeWork India Management Ltd.’s initial public offering was bid 13% on its second day of subscription on Monday, marking a significant development in the company’s efforts to raise funds through the sale of equity. In this article, we will delve into the details of the IPO, including the subscription status, GMP, and other key aspects that investors should be aware of.
IPO Subscription Status
The IPO was subscribed 0.04 times on its first day on Friday, but the subscription rate picked up on the second day, with the issue being subscribed 13% as of 05:00 p.m. on Monday. The company aims to raise Rs 3,000 crore through the sale of equity, and the IPO is scheduled to close on October 7.
IPO Details
The price band for the IPO is set between Rs 615 and Rs 648 per share, and the issue comprises an offer-for-sale component consisting of 4.62 crore shares of Rs 10 face value each. Promoter Embassy Buildcon LLP will be selling their shares through the OFS, along with investor 1 Ariel Way Tenant.
Book Running Lead Managers and Registrar
JM Financial Ltd., ICICI Securities Ltd., Jefferies India Pvt. Ltd., Kotak Mahindra Capital Co, and 360 ONE WAM Ltd. are the book running lead managers, and MUFG Intime India Private Ltd. is the registrar of the offer.
Investor Categories and Lot Size
To participate in the IPO, retail investors need to bid 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, which will lead to an investment of Rs 10,13,472.
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. It has also been a key contributor to the evolution of flexible workspace products and services in the market.
Key Dates and IPO Size
The open date for the IPO is October 3, and the close date is October 7. The allotment date is October 8, and the listing date is October 10. The IPO size is Rs 3,000 crore, and the OFS consists of 4.62 crore shares. The minimum bid is a lot size of 23 shares.
Subscription Status as of October 2
The WeWork IPO was subscribed 0.13 times or 13% as of 05:00 p.m. on Monday. The breakdown of the subscription status is as follows: Qualified institutional buyers (QIB): 0.09 times or 9%. Non-Institutional investors (NII): 0.06 times or 6%. Retail investors: 0.37 times or 37%. Employee reserved: 1.44 times.
Grey Market Premium (GMP)
The latest grey market premium of WeWork is nil as of 07:55 p.m. according to Investorgain.com. The stock’s estimated listing price is Rs 648. Note that GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
For investors looking to stay updated on the Indian stock market news, it is essential to keep track of the WeWork India IPO news and other market developments. We will provide regular updates on the IPO subscription status, GMP, and other key aspects, so stay tuned for more information.
Investing in the WeWork India IPO
Investors who are considering investing in the WeWork India IPO should conduct thorough research and analysis before making a decision. It is essential to evaluate the company’s financials, industry trends, and growth prospects to determine the potential risks and returns. Additionally, investors should consult with financial advisors and consider their individual investment goals and risk tolerance before investing in the IPO.
