WeWork India’s IPO continued seeing subdued curiosity on the third day of bidding, and was subscribed 39% at 12:45 as we speak as in opposition to 13% subscription on Day 2. The difficulty obtained bids for 99.4 Lakh shares in opposition to 2.54 Cr shares on supply.

The workers’ quota was the one section to see an oversubscription at 1.6X, receiving bids for 97,497 shares in opposition to 59,523 shares on supply. 

The retail buyers’ portion noticed 49% subscription, getting bids for 22 Lakh shares in opposition to 46.23 Lakh shares on supply. 

Whereas certified institutional consumers’ (QIBs) portion was subscribed 50%, non-institutional buyers (NIIs) continued lukewarm response with 9% subscription. The QIBs positioned bids for 69 Lakh shares in opposition to 1.38 shares on supply, whereas the NIIs bid for six.4 Lakh shares in opposition to 69 Lakh shares on supply.

WeWork’s public subject solely contains an OFS of as much as 4.62 Cr fairness shares. Whereas guardian Embassy Buildcon LLP is offloading as much as 3.5 Cr shares, the remaining fairness shares are being bought by WeWork Worldwide’s affiliate 1 Ariel Means Tenant Ltd. 

Embassy Buildcon LLP holds a 73.56% stake in WeWork India, whereas 1 Ariel Means Tenant Ltd owns a 22.64% stake within the firm.

In the meantime, proxy advisory agency InGovern has flagged points with WeWork India’s IPO, claiming the corporate’s promoters are going through ongoing severe authorized proceedings, which raises issues over disclosure adequacy and fit-and-proper standing below SEBI laws. 

“WeWork India operates below a 99-year licence with WeWork World, making it closely depending on continued promoter management and model compliance, posing substantial operational dangers,” it stated.

InGovern additionally stated that a good portion of promoter shares was pledged earlier than the IPO for borrowing. Whereas the pledge was launched forward of the IPO, these shares should be repledged if there’s a delay in IPO itemizing, it added. 

WeWork India’s shares are anticipated to make their Dalal Road debut on Friday (October 10). On the higher finish of the IPO worth band of INR 615 to INR 648, the corporate could be valued at INR 8,684 Cr (about $978.6 Mn). 

On the monetary entrance, WeWork India trimmed its internet loss by 51.5% to INR 14.1 Cr in Q1 FY26 from INR 29.2 Cr within the year-ago quarter. Its working income jumped 19.3% to INR 535.3 Cr in the course of the quarter below evaluation from INR 448.7 Cr in Q1 FY25. 

In FY25, WeWork India posted a revenue of INR 128.2 Cr as in opposition to a lack of INR 135.7 Cr in FY24. Its working income rose 17% YoY to INR 1,949.2 Cr in the course of the monetary yr.