WeWork India IPO allotment: Check applications status, latest GMP, listing date & more

WeWork India Management is scheduled to finalize the basis of allotment of its shares on Wednesday, October 08. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Wednesday or latest by Friday, October 09. The co-working solutions player barely managed to sail through during the third and final day of the bidding.

The IPO of WeWork India was open for subscription between October 03-07. It had offered its shares in the price band of Rs 615-648 per share with a lot size of 23 shares. The company raised a total of Rs 3,000 crore from its IPO, which was entirely an offer-for-sale (OFS) of up to 4,62,96,296 equity shares.

The issue was overall subscribed only 1.15 times, fetching a little more than 86,000 applications, attracting bids for Rs 1,900 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 1.79 times, while employees' quota was booked 1.87 times. The allocation for non-institutional investors (NIIs) and retail investors remained under subscribed at 23 per cent and 61 per cent, respectively.

The grey market premium (GMP) of WeWork India has seen a sharp correction amid volatile market sentiments, muted bidding and series of a flop listing lately. Last heard, the company was commanding a no premium in the unofficial market, suggesting a weak listing for the investors. The GMP stood around Rs 5 on the first day of the bidding.

Incorporated in 2016, Bengaluru-based WeWork India Management is a flexible workspace operator in India. It provides a comprehensive array of flexible workspace solutions, encompassing custom-designed buildings, floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions.

JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company and 360 ONE WAM are the book running lead managers for WeWork India IPO and MUFG Intime India is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Thursday, October 09. Shares of the company shall be listed on both BSE and NSE on Friday October 10.

Investors, who had bid for the issue of WeWork India Management, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select WeWork India Management Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.