WeWork Shares Fall in Trading Debut After $338 Million India IPO

WeWork India Management Ltd. fell during its Mumbai trading debut after the company’s initial public offering failed to attract wealthy and retail investors.

The stock traded 2% lower at 634.50 rupees as of 11:30 a.m. in Mumbai, compared with the IPO price of 648 rupees. The 30 billion rupees ($338 million) offering makes the company the largest player in India’s flexible workspace industry by market value.

Though the industry has benefited from global firms expanding their back-office operations and looking for flexible leases, WeWork India’s IPO didn’t attract enough bids from wealthy individuals and retail investors to fill up the ...