&imwidth=800&imheight=600&format=webp&quality=medium "WeWork India IPO to launch in October: Key dates, price, other details revealed")
WeWork India, a flexible workspace solution in India, will likelylaunch its IPO in October. The company has set the price of its first public issue between Rs 615 and Rs 648 per equity share. WeWork will offer 46.3 million equity shares and is aiming to raise Rs 3,000 crore from the stock markets.
Here's all you need to know about WeWork's IPO.
The company's red herring prospectus (RHP) says it has reserved 75 per cent of the shares for qualified institutional buyers (QIBs) and just 15 per cent for retail investors. 10 per cent have been earmarked for non-institutional investors (NIIs).
WeWork IPO will open for subscription on October 3 and close on October 7. By the next day, the basis of allotment of shares will be finalised.
The stock will likely be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, October 8.
The minimum lot size is 23 shares. This means a retail investor will have to pay at least Rs 14,904 for one lot of 23 shares.
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WeWork was launched in 2017. It offers flexible workspaces. The company offers a wide range of products, including custom-designed buildings, floors, and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions.
By June, the company operates 114,077 desks across 68 Operational Centres. Its clients include Amazon, JP Morgan, Discovery etc.