WeWork India IPO fully subscribed on final day; check allotment date and steps

WeWork India IPO: Co-working space operator WeWork India Management Ltd's initial public offering was fully subscribed on Tuesday, October 7, the second day of share sale.

The IPO, with a price band of ₹615 to ₹648 per share, received bids for 2,77,41,266 shares against 2,54,89,748 shares on offer, leading to 1.09 times subscription, as per NSE data until 2:54 pm.

Qualified institutional buyers led the bidding, subscribing to part of the set aside for them 1.73 times. The category for retail individual investors (RIIs) received 54% subscription, while the non-institutional investors' portion got subscribed 16%.

The ₹3,000 crore initial share sale, entirely an offer for sale (OFS) of 4.63 crore shares, will see promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) offload their stakes.

A lot consists of 23 shares and in multiples thereafter.

Founded in 2017, WeWork India Management operates under an exclusive licence of the WeWork brand. It is promoted by Bengaluru-based real estate developer Embassy Group.

WeWork India IPO: Allotment date

The basis of allotment of the WeWork India IPO is expected to be finalised on Wednesday, October 8.

How to check WeWork India IPO allotment status on NSE website

• Go to NSE’s allotment status page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Pick ‘WeWork India Management’ under the symbol ‘WEWORK’
• Enter your PAN details and application number.
• Click on submit

Steps to check WeWork India IPO allotment status on BSE

• Go to BSE's IPO allotment portal: https://bseindia.com/investors/appli_check.aspx
• Keep ‘Equity’ as the issue type
• From the ‘Issue Name’ list, select ‘WeWork India Management Ltd’
• Add PAN details or IPO application number
• After ‘I’m not a robot’ verification, press the ‘Search’ button

WeWork India IPO allotment status on MUFG Intime India

• Go to this URL: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Pick ‘WeWork India Limited’ from 'Select Company' dropdown
• Enter anyone: Application No, DP/Client ID, PAN, or Account No / IFSC
• Click on the ‘Submit’ button

Shares of WeWork India will be listed on the stock exchanges on Friday, October 10.

WeWork India IPO GMP

According to investorgain.com and media reports, the unlisted shares of WeWork India are trading at par with the upper price band of ₹648.