Flexi-workspace provider WeWork India's $338-M IPO fully subscribed

Bengaluru-based flexible workspace solutions player WeWork India Management 's USD 338 million initial public offering (IPO) was fully subscribed.The IPO, which comprised a full offer for sale of 46.3 million shares, attracted bids totalling INR 18.97 billion. Qualified institutional buyers bid for 1.79 times their allotted quota, whereas retail investors subscribed to 0.61 times their portion. WeWork India was seeking a valuation of INR 86.85 Billion (USD 978.5 million) at the top end of its price band of INR 615-648 per share.WeWork India will continue its operations under an exclusive licence from US-based WeWork Global.