WeWork shares see 52 crore bulk deal on second day of listing; stock under pressure amid ongoing concerns

WeWork India Management faced fresh selling pressure on the second day of its market debut, with a ₹52-crore bulk deal indicating continued investor caution. Global brokerage CLSA sold 8.4 lakh shares of the recently listed company at an average price of ₹618.55 per share, triggering further weakness in the stock.The stock slipped nearly 2.8% on Monday, closing at ₹611.20, well below its IPO price of ₹648, underscoring that WeWork’s struggles continue even after a successful offer-for-sale (OFS). The ₹1,200-crore IPO had been subscribed just 1.15 times, largely supported by institutional investors, while retail participation remained muted.The entire issue was an OFS by existing shareholders, including Embassy Group and WeWork Global, meaning the company itself did not raise fresh capital. Market observers said that early institutional exits and price drops suggest weak confidence in post-listing performance.Adding to the uncertainty are the pending legal proceedings and governance questions surrounding WeWork India’s operations, which are yet to be fully tested in court and by the market.While the company has reported a turnaround—revenues rising from ₹1,314 crore in FY23 to ₹1,949 crore in FY25, and profits swinging from a ₹147-crore loss to a ₹128-crore profit—the premium valuation of 65× FY25 earnings and ongoing ownership disputes continue to weigh on sentiment.Analysts say the ₹52-crore sale on day two signals that investors remain wary of the company’s long-term stability despite its operational gains.