Shares of WeWork India Management, a prominent co-working space operator, experienced a notable debut on the stock market, closing nearly 4 percent lower on Friday. The company's shares commenced trading on the BSE at ₹646.50, reflecting a minor decline of 0.23 percent from its issue price. Throughout the trading day, the stock saw a further dip, reaching a low of ₹615, down 5.09 percent, before finally settling at ₹624.75 apiece, marking a 3.59 percent decrease.

On the National Stock Exchange (NSE), WeWork India's stock listed at ₹650 per share, which was a premium of 0.31 percent over its issue price. However, it subsequently concluded the day 2.47 percent lower at ₹632 per piece. By the close of the market, the company's market valuation on the NSE stood at ₹8,470.27 crore. Significant trading volumes were observed, with 70.72 lakh equity shares exchanged on the NSE and 4.54 lakh shares on the BSE during the day.

In contrast to WeWork India's performance, the broader Indian stock markets demonstrated a positive trend on Friday. The 30-share BSE Sensex concluded the day higher, climbing 328.72 points (0.40 percent) to reach 82,500.82. Similarly, the NSE Nifty50 also saw gains, rising 103.55 points (0.41 percent) to settle at 25,285.35.

Details surrounding WeWork India's initial public offering (IPO) revealed that it received a 1.15 times subscription rate on its final bidding day. The company had successfully raised over ₹1,348 crore from anchor investors the previous week. The ₹3,000-crore IPO was structured with a price band ranging from ₹615 to ₹648 per share. This public issue was entirely an offer for sale, involving the divestment of up to 4.63 crore equity shares by promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd.

WeWork India, founded in 2017, operates under an exclusive license of the global WeWork brand within India, promoted by the Bengaluru-based real estate developer Embassy Group. According to its draft papers, the company's primary objectives for listing its equity shares on the stock exchanges included enhancing its visibility, providing liquidity to existing shareholders, and establishing a robust public market for its stock in India.

The company currently maintains a substantial operational footprint across India's Tier-1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. It manages a total of 77 lakh square feet of space, with 70 lakh square feet already operational, accommodating a desk capacity of 1.03 lakh. WeWork India employs a workforce of over 500 individuals, supporting its extensive co-working operations.