WeWork India Struggles on Trading Debut Amid Valuation Woes
BENGALURU: WeWork India Management shares made their trading debut on Friday, closing down 3% and valuing the co-working space provider at approximately 84.25 billion rupees (around $950 million). Investors expressed concerns regarding high valuations and governance issues. The shares opened just above the IPO offer price of 648 rupees before dipping as much as 5.2% to 614.25 rupees. The company, which licenses its brand from the now-bankrupt WeWork Global, raised approximately $338.16 million in its IPO, which was subscribed 1.15 times, largely driven by institutional interest. “Investors are uncomfortable with the valuation, and WeWork is feeling the pressure,” commented Aishvarya…