WeWork IPO day 2 Live: Here's GMP, subscription status, other key details - apply or not?

The initial public offering (IPO) of WeWork India Management opened for subscription on October 3. The issue received a tepid response from investors on the first day of bidding.

The company ranks among India’s top premium flexible workspace providers. Its model revolves around leasing properties from landlords, carrying out fit-outs, and converting them into fully managed, modern, tech-enabled, and efficient office spaces for its members.

WeWork IPO subscription status

On the second day of bidding, the WeWork IPO was subscribed 0.13 times and received 32,08,040 applications against 2,54,89,748 shares, as of 12:24 pm.

The retail segment was subscribed 0.34 times, while demand from Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs) stood at just 0.05 times and 0.09 times each. In comparison, the employee category witnessed robust interest, with a 1.34 subscription.

WeWork IPO Review

Brokerage firm Anand Rathi, while giving ‘subscribe for long-term’ tag, said, “At the upper price band, the company is valued at 4.4x FY25 P/S, implying a post-issue market capitalization of ₹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.”

On the other hand, brokerage firm SMC Global gave ‘neutral’ tag, saying, “Considering the P/E valuation on the upper price band of Rs.648, TTM EPS and P/E are Rs.10.69 and 60.64 multiple respectively and at a lower price band of Rs. 615, P/E multiple is 57.56. Looking at the P/B ratio on the upper price band of Rs.648, book value and P/B are Rs. 14.15 and 45.79 multiple respectively and at a lower price band of Rs. 615 P/B multiple is 43.45. No change in pre and post issue EPS and Book Value as the company is not making fresh issue of capital.”

WeWork IPO GMP today

The shares of WeWork IPO are trading at a premium of ₹5 in the grey market premium, as per investorgain. This means that the GMP of WeWork IPO is +5 in the grey market.

The estimated listing of WeWork IPO is likely to be ₹653, which is 0.77 per cent higher than the IPO price of ₹648.

The highest GMP of WeWork IPO is ₹15, meanwhile, the lowest GMP is ₹5, as per grey market trends.

WeWork IPO details

The company plans to raise ₹3,000 crore through the offer, which comprises a complete offer for sale of 4.63 crore shares, with the price band set at ₹615–648 per share.

For retail investors, the minimum application size is one lot of 23 shares, with a maximum of 13 lots. At the upper price band of ₹648 per share, the minimum investment required per lot amounts to ₹14,904.

The proceeds from the offer, after deducting issue-related expenses and applicable taxes, will go entirely to the selling shareholder, who will bear those costs.

The share allotment is expected to be finalized on Wednesday, October 8, with the listing scheduled on both NSE and BSE on Friday, October 10. JM Financial Ltd. is acting as the book-running lead manager, while MUFG Intime India Pvt. Ltd. serves as the registrar to the issue.

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.