New Delhi, October 10(HS): Flexible workspace operator WeWork India Management Ltd entered the stock market with a largely flat debut, disappointing its IPO investors. The company’s shares were issued at ₹648 each under the IPO. On the listing day, shares debuted at ₹646.50 on the BSE, slightly below the issue price, and at ₹650 on the NSE, a marginal premium.
Following the listing, selling pressure pushed the share price down further, and by 11 a.m., shares were trading around ₹633.85.WeWork India’s ₹3,000 crore IPO was open for subscription from October 3 to 7, 2025. However, the response from investors was lukewarm, with an overall subscription of merely 1.15 times.
Qualified Institutional Buyers (QIBs) showed decent interest with 1.79 times subscription, but Non-Institutional Investors (NIIs) subscribed only 0.23 times, and retail investors 0.62 times. Employee quota was subscribed 1.87 times. The IPO involved the sale of 4.63 crore equity shares through an Offer for Sale (OFS) window, meaning the proceeds did not go to the company but to existing shareholders.
Financially, the company reported an improving trajectory. It narrowed its net losses from ₹146.81 crore in FY 2022-23 to ₹135.77 crore in FY 2023-24. Impressively, in FY 2024-25, WeWork India turned profitable with a net profit of ₹128.19 crore. Revenue grew at a robust compound annual growth rate of 19%, reaching ₹2,024 crore in the latest fiscal year.
The company’s debt fluctuated over recent years, peaking at ₹625.83 crore at the end of FY 2023-24 before reducing substantially to ₹310.22 crore by the end of FY 2024-25.Despite the positive financial turnaround, the muted IPO subscription and flat listing indicate cautious investor sentiment.
Early investors did not gain from the listing, and market watchers suggest a cautious approach as the stock begins its market journey.This mixed market debut reflects challenges in attracting retail investors for flexible workspace companies amidst evolving market dynamics.
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Hindusthan Samachar / Jun Sarkar
