WeWork India IPO kicks off: Day 1 subscription status and 10 key highlights you should know

WeWork India IPO: The initial public offering of co-working space operator WeWork India Management opened for subscription on Friday, October 3. The price band has been fixed at ₹615 to ₹648 per share. The company's shares will be listed on the stock exchanges on October 10.

On Wednesday, the company mobilised ₹1,348.26 crore from anchor investors, including ICICI Prudential Mutual Fund, Motilal Oswal MF, HDFC MF, Aditya Birla Sun Life MF, Canara-Robeco MF, Axis MF, Canara HSBC Life Insurance, Kotak Mahindra Life Insurance, Bajaj Allianz Life Insurance, SBI General Insurance, Goldman Sachs Fund, Allianz Global Investors and Al Mehwar Commercial Investments LLC (Wanda), among others. The company allotted 2,08,06,548 shares to 67 funds at ₹648 apiece.

WeWork India IPO day 1: Check subscription status

The IPO received bids for 4,70,833 shares against 2,54,89,748 shares on offer, according to NSE data until 11:56 am.

WeWork India IPO: 10 key points to know

• WeWork India IPO subscription period: The initial public offering will be open for bidding from Friday, October 3, to Tuesday, October 7.
• IPO offer structure: It is solely an offer for sale of 4.63 crore shares aggregating to ₹3000 crore without a fresh issue component.
• WeWork India IPO price band: The price range has been set at ₹615 to ₹648 per share.
• Reservation: The company has set aside 75% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail investors.
• WeWork India IPO lot size: Retail investors can apply for a minimum of 23 shares.
• Objectives: Under the OFS, promoter Embassy Buildcon LLP is offloading 35,402,790 shares, while investor 1 Ariel Way Tenant is selling 10,893,506 shares. As there is no fresh issue component, the company will not get any issue proceeds.
• Book-running lead manager and registrar: JM Financial, Jefferies, ICICI Securities, 360 ONE WAM and Kotak Mahindra Capital are the IPO's book-running lead managers, while MUFG Intime India is the registrar.
• WeWork India IPO allotment date: The basis of allotment is likely to be finalised on October 8.
• Listing date: The listing on the BSE and the BSE will occur on October 10.
• Promoter holding: The company's promoters hold a 73.56% stake, which will be reduced to 48.07% post-issue.

WeWork India IPO GMP

According to investorgain.com and media reports,WeWork India' unlisted shares are trading at ₹663 per share, reflecting a grey market premium of 2.31% over the upper price band of ₹648.