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WeWork India's IPO Debut Sees Lukewarm Investor Response
6 Oct
Summary
- WeWork India IPO received only 0.23x subscription on second day of bidding
- Retail and NII participation stood at 0.23x and 0.03x respectively
- IPO priced at ₹615-₹648 per share, trading at a 0.77% premium in grey market
WeWork India's much-anticipated initial public offering (IPO) has gotten off to a slow start, with the ₹3,000-crore issue receiving a lukewarm response from investors. As of October 6, 2025, the second day of bidding, the IPO had garnered bids for only 16.18 lakh shares, or 0.23 times the total offer size of 2.55 crore shares.
The retail and non-institutional investor (NII) categories saw subscription levels of 0.23x and 0.03x, respectively, while the qualified institutional buyer (QIB) portion received bids for just 0.02 times the allotted shares. This muted investor interest comes despite WeWork India's strong financial performance, with the company reporting a 26.7% increase in revenue from operations to ₹1,665.14 crore in fiscal year 2024, and a further 17.1% rise to ₹1,949.21 crore in fiscal year 2025.
Analysts have provided a mixed outlook on the IPO, with some brokerages recommending a "Subscribe" rating due to WeWork India's leadership in the flexible workspace segment and improving profitability, while others view the valuations as fairly priced. In the grey market, the company's shares are currently trading at a premium of just 0.77% over the upper end of the IPO price band of ₹648, indicating that investors are not expecting significant listing gains.
Despite the muted response so far, WeWork India remains optimistic about the long-term prospects of the IPO, which it hopes will enhance the company's visibility, provide liquidity to existing shareholders, and establish a public market for its stock in India.
