WeWork India shares off to a lacklustre start, list at 2.5% discount on BSE

WeWork India IPO listing: Tracking a muted demand for its initial public offering (IPO) and an absent grey market premium (GMP), WeWork India Management shares witnessed a lacklustre stock market debut today, October 10.

WeWork India share price got listed at ₹632 on the BSE, a discount of 2.47% to the IPO price of ₹648. On the other hand, WeWork India share price debuted at a marginal premium of 0.31% at ₹650 as against the issue price.

Ahead of the listing today, the WeWork IPO GMP was ₹0, indicating that shares were trading at their issue price of ₹648 with no premium or discount in the grey market, according to investorgain.com.

WeWork India IPO, which ran for subscription from October 3 to October 7, was booked 1.15 times. The IPO received strong interest from Qualified Institutional Buyers (QIBs), with oversubscription of 1.79 times. Non-institutional investors had a subscription rate of 23%, while retail investors participated with a 61% subscription.

The ₹3,000 crore public issue was entirely an offer for sale of 4.63 crore shares. WeWork IPO was priced in the range of ₹615 to ₹648 apiece, with a lot size of 23 shares.

More to come…

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories