The initial public offering (IPO) of co-working space operator WeWork India Management Ltd received 4 per cent subscription on the first day of share sale on Friday.
The IPO received bids for 11,10,440 shares against 2,54,89,748 shares on offer, as per NSE data.
The quota for retail individual investors (RIIs) got subscribed 14 per cent, while the categories for qualified institutional buyers and non-institutional investors received 2 per cent subscription each.
WeWork India has collected a little over Rs 1,348 crore from anchor investors.
The company’s Rs 3,000-crore issue will conclude on October 7. The price band has been fixed at Rs 615-648 per share, valuing the company around Rs 8,685 crore at the upper end.
The IPO, entirely an offer for sale of up to 4.63 crore equity shares, will see promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) divest their stakes.
Currently, Embassy Group holds about 76.21 per cent in WeWork Indi
