WeWork IPO GMP, Subscription Status Day 2 Live Updates: The IPO of WeWork India enters day 2, it opened on October 3 and will close on October 7. The Rs 3,000 crore issue is entirely an offer for sale (OFS) of 4.63 crore shares. This essentially means there is no fresh issue of shares.
| WeWork India IPO | Key Details |
| Price Band | Rs 615–648 per share |
| IPO Date | October 3-7 |
| GMP | 0.7% |
| IPO Allotment date | October 8 |
| Listing date | October 10 |
The allotment is expected to be finalised on October 8, while the shares will list on both the BSE and NSE on October 10.
Lot size and retail investment details
The lot size for retail investors is 23 shares, requiring a minimum investment of Rs 14,904 at the upper price band. For small non-institutional investors (sNII), the minimum bid size is 14 lots or 322 shares, amounting to Rs 2,08,656, while for big non-institutional investors (bNII), it is 68 lots or 1,564 shares, translating to Rs 10,13,472.
About the company
WeWork is a global provider of flexible workspace solutions. The company helps businesses operate efficiently through modern office spaces, innovative technology services, and hospitality-driven experiences designed to boost productivity and collaboration. WeWork India, a separate entity from its global parent, operates the co-working business in India.
WeWork IPO Subscription day 2 Status Live: Follow Live Coverage on WeWork IPO GMP, Subscription Status, Grey Market Premium, Listing Date, Review and More
WeWork IPO Subscription Status, GMP Live: About WeWork India
WeWork India Management is a flexible workspace operator in India. The organisation provides a comprehensive array of flexible workspace solutions, encompassing custom-designed buildings, floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions.
WeWork IPO Subscription Status, GMP Live: Nirmal Bang on WeWork IPO
WeWork is a leader in India’s premium flexible workspace market with robust growth metrics. The company is strategically positioned as a premium market leader to capitalize on the sustained shift towards hybrid work models in India. Revenue and adjusted EBITDA has grown steadily at a CAGR of 22% and 48%, respectively, between FY23–FY25. "The issue is available at a EV/adj. EBIDTA of 21.3x of FY25 earnings which we believe is reasonable and recommend ‘Subscribe’ to the issue considering India’s strong demand for flexible offices and WeWork’s brand leadership," said Nirmal Bang in an IPO note.
WeWork IPO Subscription Status, GMP Live: Employee section fully booked
The employee section of the IPO was booked fully within a few hours of opening. The category was subscribed to 1.31 times, while the total subscription as of now stands at 0.09 times.
WeWork IPO Subscription Status, GMP Live: Shares fetch nil GMP
The shares of WeWork India have fallen to nil in the grey market. The share price has been witnessing a continuous decline for the past six days. WeWork India was fetching a premium of 2.3%, trading at Rs 663 on October 01. This has dropped to Rs 648, the issue price, on October 06.
WeWork IPO Subscription Status, GMP Live: Financial overview
The company has shown a turnaround in its finances. Its revenue grew from Rs 1,314 crore in FY23 to Rs 1,949 crore in FY25, and net profit moved from a loss of Rs 147 crore to a profit of Rs 128 crore. EBITDA margins also improved.
WeWork IPO Subscription Status, GMP Live: Company footprint and business model
WeWork India operates 68 centers across 8 Tier-1 cities, offering more than 114,000 desks. Its asset-light model focuses on plug-and-play workspaces, allowing flexibility and scalability without significant property ownership.
WeWork IPO Subscription Status, GMP Live: Muted response so far
The WeWork India IPO continued to see a slow start on the second day of bidding as well, with an overall subscription of 0.08 times so far. Retail investors subscribed 0.29 times, while the Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) categories remained tepid at 0.02 times and 0.04 times, respectively. The bidding process is still underway.
WeWork IPO Subscription Status, GMP Live: AnandRathi on WeWork IPO
"The company has become EBIDTA positive and is focusing on profitability in coming years. Given these factors, the IPO appears fully priced and is recommended with a “Subscribe – Long Term” rating,” said the brokerage firm AnandRathi in its IPO note.
WeWork IPO Subscription Status, GMP Live: Important dates and trading details
The IPO is open for bidding from October 3 to October 7. The allotment is scheduled for October 8, with listing on NSE and BSE planned for October 10. Retail investors can apply in lots of 23 shares.
WeWork IPO Subscription Status, GMP Live: Entirely an Offer-for-Sale
The WeWork India IPO is structured as a full Offer-for-Sale (OFS) worth Rs 3,000 crore. No new shares are being issued, and the company itself will not receive any funds. All proceeds go directly to existing shareholders after deduction of taxes and IPO-related expenses.
WeWork IPO Subscription Status, GMP Live: Allocation across investor categories
The IPO allocation follows SEBI guidelines: 75% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Individual Investors (RIIs). Employees also have a reserved quota.
WeWork IPO Subscription Status, GMP Live: Anchor investor participation
Prior to public subscription, 67 anchor investors, including domestic insurers, mutual funds, and global institutions, subscribed to shares worth Rs 1,348 crore.
WeWork IPO Subscription Status, GMP Live: Who is selling
The shares on offer are held by the promoters, Embassy Buildcon LLP, and WeWork Global. The sale provides liquidity to these shareholders without changing the company’s operational ownership or adding equity capital.
Also read: WeWork looks to maintain 20-25% topline, capacity growth
WeWork IPO Subscription Status, GMP Live: Company won’t receive proceeds
In the WeWork India IPO, the company itself will not receive any funds. All the money raised from the sale of shares will go directly to the selling shareholders. After deducting any IPO-related expenses and applicable taxes, the proceeds will remain with these shareholders, making it a pure offer-for-sale without adding capital to the company’s balance sheet.
WeWork IPO Subscription Status, GMP Live: Bajaj Broking on WeWork IPO
"WeWork India Management is a flexible workspace operator in India. The organisation provides a comprehensive array of flexible workspace solutions, encompassing custom-designed buildings, floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions. From a valuation perspective, the Company is currently valued at EV/EBITDA multiple of 6.8x and EV/Sales multiple of 4.3X based on its FY25 financials," said Bajaj Broking in its IPO note.
WeWork IPO Subscription Status, GMP Live: Nirmal Bang on WeWork IPO
"WeWork is a leader in India’s premium flexible workspace market with robust growth metrics. The company is strategically positioned as a premium market leader to capitalize on the sustained shift towards hybrid work models in India. Revenue/adj EBITDA has grown steadily at a CAGR 22% /48% between FY23–FY25 and issue is available at a EV/adj EBIDTA of 21.3x of FY25 earnings which we believe is reasonable and recommend ‘Subscribe’ to the issue considering India’s strong demand for flexible offices and WeWork’s brand leadership," said Nirmal Bang in its IPO note.
WeWork IPO Subscription Status, GMP Live: AnandRathi on WeWork IPO
"At the upper price band, the company is valued at 4.4x FY25 P/S, implying a post-issue market capitalization of Rs 86,847 million. Its strategy focuses on deepening its presence in existing cities, expanding into high-demand micro-markets, and strengthening relationships with Large Enterprise Members, who contributed 60.6% of Net Membership Fees in Q1 FY26 and support its premium positioning with lower price sensitivity. The company also continues to innovate across core, digital, and value-added offerings to enhance member experience. The company has become EBIDTA positive and is focusing on profitability in coming years. Given these factors, the IPO appears fully priced and is recommended with a “Subscribe – Long Term” rating," said the brokerage firm AnandRathi in its IPO note.
WeWork IPO Subscription Status, GMP Live: Grey Market trend
In the unlisted market, WeWork India’s shares have been trading at a modest grey market premium (GMP) of Rs 5–15, or roughly 1–2.5% above the upper price band.
WeWork IPO Subscription Status, GMP Live: Lease commitments and business risks
A key concern for investors lies in WeWork India’s asset-liability mismatch. The company signs long-term lease agreements typically spanning over eight years while most of its client contracts are much shorter.
Also Read: WeWork India IPO: Four lesser-known facts that investors can’t miss before applying
WeWork IPO Subscription Status, GMP Live: Arihant Capital on WeWork IPO
"The company operates on a capital-efficient lease model and has achieved healthy occupancy (>80% in mature centres). Financially, WeWork India delivered FY25 revenues of INR 19,492 Mn with Adjusted EBITDA of INR 4,213 Mn, implying a margin of 21.6%. Its portfolio revenue-to-rent multiple of 2.7x exceeds the industry average of 1.9–2.5x. At the upper price band INR 648, the IPO is valued at an EV/EBITDA multiple of 7.3x, reflecting its leadership, premium positioning, and brand strength. We recommend a “Subscribe for listing gain” for this issue," said Arihant Capital in its IPO note.
WeWork IPO Subscription Status, GMP Live: Financial snapshot
The company reported a sharp turnaround in FY25, with revenues rising 17% year-on-year to Rs 2,024 crore and a profit of Rs 128.19 crore, compared to a loss of Rs 135.77 crore in FY24.
WeWork IPO Subscription Status, GMP Live: What the company does
WeWork India operates as a co-working and flexible office space provider, targeting corporates, startups, and freelancers. The company leases large office spaces, designs and manages them, and then subleases them to clients. As of June 2025, it had 68 centers, offering over 1.14 lakh desks across eight major cities, covering nearly 7.35 million square feet of workspace.
WeWork IPO Subscription Status, GMP Live: Anchor book and early subscription trends
Ahead of the IPO opening, WeWork India raised Rs 1,348 crore from 67 anchor investors at the upper price band.
On the Day 1 of its bidding on October 3, the IPO receivd a slow start on Day 1, with overall subscription at just 4%, including 14% in the retail segment.
WeWork IPO Subscription Status, GMP Live: Price band and investment details
WeWork India has set the price band at Rs 615–Rs 648 per share, with investors required to bid for a minimum of 23 shares per lot.
This puts the minimum investment at around Rs 14,900 for retail participants.
WeWork IPO Subscription Status, GMP Live: Size and nature of the issue
The Rs 3,000-crore issue is a complete Offer-for-Sale (OFS). This means that the company itself will not receive any funds from this IPO. All proceeds will go to the existing shareholders, mainly Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd, a WeWork Inc. affiliate.
WeWork IPO Subscription Status, GMP Live: Schedule and listing plan
The WeWork India Management IPO opened for bidding on October 3 and has entered its second day of bidding. The IPO will close its subscription window on October 7.
The tentative listing date is on October 10 and will be listed on both NSE and BSE.