WeWork India’s IPO continued to see a muted response on Day 2 and was subscribed 7% by 11:15 AM, up slightly from 4% on Day 1.

As per the data available on the BSE, the issue received bids for 17 Lakh shares as against 2.54 Cr shares on offer.

The employees’ quota was the only segment to be oversubscribed at 1.2X, receiving bids for 71,000 shares against 59,523 shares on offer.

The portion reserved for retail investors was subscribed 26%, getting bids for 12 Lakh shares against 46.23 Lakh shares on offer.

Non-institutional investors (NIIs) and qualified institutional buyers (QIBs) continued to show negligible interest. The NII portion was subscribed 4%, receiving bids for 2.7 Lakh shares as against 69.35 Lakh shares reserved for them. The QIBs placed bids for a mere 2.8 Lakh shares against 1.3 Cr shares on offer, translating to 2% subscription.

WeWork India has set a price band of INR 615 to INR 648 for the IPO, which will close tomorrow. The public issue solely comprises an offer for sale of up to 4.62 Cr equity shares. While parent Embassy Buildcon LLP is offloading up to 3.5 Cr shares, the remaining equity shares are being sold by WeWork International’s affiliate 1 Ariel Way Tenant Ltd.

Embassy Buildcon LLP holds a 73.56% stake in WeWork India, while 1 Ariel Way Tenant Ltd owns a 22.64% stake in the company.

At the top end of the price band, WeWork India will be valued at INR 8,684 Cr (about $978.6 Mn). Its shares are expected to make their Dalal Street debut on October 10 (Friday).

Ahead of the IPO, WeWork India raised INR 1,348.3 Cr from anchor investors.

On the financial front, the company trimmed its net loss by 51.5% to INR 14.1 Cr in Q1 FY26 from INR 29.2 Cr in the year-ago quarter. Its operating revenue jumped 19.3% to INR 535.3 Cr during the quarter under review from INR 448.7 Cr in Q1 FY25.

In FY25, WeWork India posted a profit of INR 128.2 Cr as against a loss of INR 135.7 Cr in FY24. Its operating revenue rose 17% YoY to INR 1,949.2 Cr during the financial year.

Post its listing, WeWork India will become the fifth listed coworking space provider, joining Awfis, Smartworks, IndiQube and DevX.

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