WeWork India IPO Subscription Update
The ₹3,000 crore offering opened on Friday, October 3, and will close today, Tuesday, October 7. On Day 2, the IPO saw a 13% overall subscription with shares trading at their issue price of ₹648, indicating no grey market premium (GMP).
WeWork IPO GMP Today
As per Investorgain.com, the WeWork India IPO GMP today stands at ₹0, showing no premium or discount in the unlisted market. Over the last week, the GMP has shown a declining trend, fluctuating between ₹15 and ₹0. This signals a cautious investor sentiment, reflecting limited short-term listing gains. The Grey Market Premium (GMP) essentially shows how much investors are willing to pay over the issue price before listing.
Company Background
Founded in 2017, WeWork India Management Ltd. operates under an exclusive license of the WeWork global brand through the Embassy Group, a leading Bengaluru-based real estate developer. The company currently manages 77 lakh sq ft of workspace across major Tier-1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. Out of this, 70 lakh sq ft is operational with a desk capacity of 1.03 lakh. WeWork India employs over 500 professionals and has emerged as a key player in India’s flexible workspace segment.
WeWork IPO Details
The WeWork India IPO is a complete Offer for Sale (OFS) of up to 4.63 crore equity shares, with promoters Embassy Buildcon LLP and investor Ariel Way Tenant Ltd. (WeWork Global affiliate) offloading part of their holdings. The IPO is valued at ₹3,000 crore at the upper price band of ₹648 per share, valuing the company around ₹8,685 crore.
Since it is a pure OFS, WeWork India will not receive any proceeds from the sale; the funds will go entirely to the selling shareholders. JM Financial Ltd. is the lead manager, while MUFG Intime India Pvt. Ltd. acts as the registrar.
Subscription Status Breakdown
As per BSE data (as of 5:00 PM on Day 2):
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Total Subscription: 13%
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Retail Investors: 37%
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Non-Institutional Investors (NII): 6%
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Qualified Institutional Buyers (QIBs): 9%
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Employee Quota: 1.44x subscribed
The company has already raised ₹1,348 crore from anchor investors before opening the issue to the public.
Analyst Opinions – Subscribe or Avoid?
Anand Rathi Research has rated the IPO as “Subscribe – Long Term”, citing WeWork India’s strong operational base, premium brand presence, and profitable trajectory. The brokerage highlighted the company’s focus on large enterprise clients, who contributed over 60.6% of net membership fees in Q1 FY26, ensuring consistent revenue visibility.
Meanwhile, Angel One offered a “Neutral” view, noting that while WeWork India operates in a growing sector and has achieved EBITDA positivity, its valuation at 67.75x P/E appears expensive. The firm flagged concerns around high fixed costs, revenue concentration, and market volatility, suggesting cautious optimism.
Should You Apply for WeWork India IPO?
If you are a long-term investor seeking exposure to India’s expanding flexible workspace industry, WeWork India offers a strategic investment in the evolution of urban offices. However, for short-term investors or those expecting listing gains, the flat GMP and premium valuation may limit immediate upside potential.
The WeWork India IPO reflects a balance between growth potential and valuation risk. Long-term investors may consider subscribing for sustained returns, while short-term traders prefer to wait and monitor final-day subscription momentum.
Disclaimer: This article is for informational purposes only. Investors should consult a certified financial advisor before making any investment decisions.
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