WeWork India share price: Stock lists at 0.31% premium on NSE; here's how much investors made per lot

WeWork India share price: Shares of co-working space operator WeWork India Management made a tepid debut on the stock exchanges on Friday, October 10.

The stock listed at ₹650 apiece, reflecting a premium of 0.31% over the IPO issue price of ₹648 per share.

On the BSE, the scrip started trading at ₹646.50, down 0.23% from the issue price.

WeWork India share price: Here's how much investors gained per lot

The ₹3,000 crore IPO was completely an offer for sale of 4.63 crore shares by promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd, which is part of WeWork Global.

As there was no fresh issue component, the company will not get any issue proceeds. Instead, the funds will go to selling shareholders.

In its RHP, the company said it "expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders." Listing will also provide a public market for the equity shares in India."

The initial share sale fetched bids for 2,92,68,374 shares as compared to 2,54,89,748 shares on offer, leading to a 1.15 times subscription, as per the data available on the NSE website.

Before the IPO, WeWork India collected ₹1,348.26 crore from anchor investors, including ICICI Prudential Mutual Fund, Motilal Oswal MF, Aditya Birla Sun Life MF, HDFC MF, Axis MF, Canara-Robeco MF, Kotak Mahindra Life Insurance, Canara HSBC Life Insurance, SBI General Insurance, Bajaj Allianz Life Insurance, Goldman Sachs Fund, Allianz Global Investors and Al Mehwar Commercial Investments LLC - (Wanda).

Founded in 2017, WeWork India provides workspace solutions, including custom-designed buildings, floors and offices, tailored managed offices, enterprise office suites, co-working spaces, private offices and hybrid digital solutions.