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WeWork India IPO Closes With Tepid Demand as Grey-Market Premium Evaporates

Because the offering is a pure OFS, proceeds go only to selling shareholders.

Overview

  • The Rs 3,000 crore issue closed Oct. 7 with overall subscription around 1.05 times, according to exchange-based reporting.
  • Category split at close showed QIBs about 1.2 times, NIIs near 0.9 times and retail roughly 0.75 times, pointing to uneven interest.
  • Grey-market pricing fell to nil on the final day, signaling expectations for a flat or only modest listing.
  • The offer comprised 4.62–4.63 crore shares at Rs 615–648, with allotment due Oct. 8 and listing slated for Oct. 10 on BSE and NSE.
  • Selling shareholders include promoter Embassy Buildcon LLP and WeWork affiliate 1 Ariel Way Tenant, after raising about Rs 1,348 crore from anchors; proxy firm InGovern also flagged governance and legal risks for investors to watch post-listing.