WeWork India Shares List Flat, Slip Up to 4% After Debut
New Delhi: Shares of co-working space operator WeWork India Management made a muted market debut on Friday, listing flat before slipping in early trade.
On the NSE, the stock opened at ₹650 per share, a modest 0.31% premium over its issue price, but soon fell 3.84% to ₹623.10 apiece. On the BSE, it began trading at ₹646.50, down 0.23% from the issue price.
Post-listing, the company’s market capitalisation stood at ₹8,598.93 crore on the BSE.
WeWork India’s ₹3,000-crore IPO, priced in the range of ₹615–648 per share, was subscribed 1.15 times on its final day on Tuesday. The company had earlier raised over ₹1,348 crore from anchor investors.
The public issue was an offer for sale (OFS) of up to 4.63 crore equity shares, with promoter group Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) offloading their stakes.
According to its draft filings, WeWork India said the IPO aimed to enhance market visibility, provide liquidity to existing shareholders, and create a public market for its shares.
Founded in 2017, the company operates under an exclusive licence of the WeWork brand in India, promoted by Bengaluru-based Embassy Group. It has a presence across Tier-1 cities — including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai — managing 77 lakh sq ft of space, of which 70 lakh sq ft is operational, with a desk capacity of 1.03 lakh. The firm employs over 500 people.
