WeWork India vs Tata Capital vs LG Electronics: latest GMP, subscriptions and all details

Three mainboard IPOs- WeWork India Management, LG Electronics India and Tata Capital, are available for investors for bidding. However, opening and closing dates for all these three issues are different. All the three issues are looking to cumulatively raise more than Rs 30,000 crore via their primary offering.

WeWork India Management, whose IPO shall close for bidding on Tuesday, October 07, has been subscribed only 44 per cent as of 1.30 pm on its last day of the bidding. Retail portion was booked only 51 per cent, while the HNI portion was subscribed only 10 per cent. Quota for retail bidders was booked 59 per cent as of the same time.

WeWork India is offering its shares in the range of Rs 615-648 apiece with a lot size of 23 equity shares, to raise a total of Rs 3,000 crore. The issue is entirely an offer-for-sale (OFS) of up to 4,62,96,296 shares. The offer had kicked off for subscription on Friday, October 03. The issue commanded no grey market premium (GMP) as of writing the story.

WeWork IPO is valued at EV/Ebitda multiple of 6.5 times on post issue FY25 basis. It has strong brand recognition and leadership in India and international presence and leadership in a rapidly growing market and company is majority owned and promoted by

Embassy Group which is a leading real estate developer in India & has presence in Grade A properties, said Hem Securities with a subscribe for long-term rating.

Tata Capital, which kicked-off for bidding on Monday October 6 and will on Wednesday, October 08, is having its second day two. It has been subscribed 57 per cent as of the same time. Retail portion was booked 58 per cent, while the HNI portion was subscribed only 56 per cent. Quota for retail bidders was booked 55 per cent as of the same time.

Tata Capital is offering its shares in the range of Rs 310-326 apiece with a lot size of 46 equity shares. It is looking to raise a total of Rs 15,000 crore, which includes a fresh share sale of 21 crore equity shares and an offer-for-sale (OFS) of up to 26,58,24,280 shares. Tata Capital IPO's grey market premium (GMP) stood at Rs 8-10, indicating a listing pop of 4 per cent for the investors.

Tata Capital is the third largest diversified NBFC in India. It is operating in a highly competitive and fragmented segment. It is Tata Group’s flagship financial services arm, leverages strong brand equity, a diverse loan portfolio, and wide distribution to drive long-term growth. Considering 'TATA' legacy, investors can park funds for the long term, said Swastika Investmart.

LG Electronics India, whose IPO kicked-off for bidding on Tuesday, October 07, saw an overall subscription of 57 per cent as of the given time. Retail portion was booked only 55 per cent, while the HNI portion was subscribed 1.28 times. Quota for retail bidders was booked only 7 per cent as of the same time.

LG Electronics India is offering its shares in the range of Rs 1,080-1,140 apiece with a lot size of 13 equity shares, to raise a total of Rs 11,607 crore. The issue is entirely an offer-for-sale (OFS) of up to 10,18,15,859. The offer will close for subscription on Thursday, October 09. LG Electronics India's GMP jumped to Rs 330 on day 1, suggesting a 29-30 per cent listing pop for the bidders.

"With favorable macroeconomic trends, rising consumer demand, and continued product innovation, LG Electronics India is well-positioned for sustainable long-term growth. At a valuation of 35.1x FY25 EPS, compared to the industry average of 55.7 times, the issue appears attractively priced. Thus, we recommend a 'subscribe' rating on the IPO," said Nirmal Bang Securities.