WeWork India Kicks Off Rs 3,000 Crore IPO
WeWork India's Initial Public Offering (IPO) kicked off on October 3, aiming to raise a substantial Rs 3,000 crore. The IPO is priced between Rs 615 and Rs 648 per share, closing on October 7.
The IPO involves the sale of 4.62 crore shares, with Embassy Group and WeWork Global acting as sellers. No proceeds will go to the company, as it's an offer for sale. The minimum application size for retail investors is one lot of 23 shares, costing Rs 14,904 at the upper price band. Retail applicants can bid up to 13 lots, amounting to around Rs 1.93 lakh.
In the grey market, WeWork India is trading at a modest premium of around 3%, or about Rs 15, over the upper price band. Despite the lack of information on who transferred the shares, the IPO has garnered interest.
The WeWork India IPO is open for subscription until October 7, with shares priced between Rs 615 and Rs 648. The IPO aims to raise Rs 3,000 crore, with no proceeds going to the company. Retail investors can bid up to 13 lots, with the IPO trading at a modest premium in the grey market.
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