New Delhi, Oct. 3 -- The initial public offering (IPO) of WeWork India Management, which opened for bidding today, October 3, received a tepid response from investors, with the issue subscribed at just 4% on Day 1. The retail portion was booked at 15%, while Non-Institutional Buyers (NIIs) and Qualified Institutional Buyers (QIBs) were each subscribed at only 2%. In contrast, the employee quota saw strong demand, with 90% subscription.

The company aims to raise Rs.3,000 crore from the issue, which is entirely an offer for sale of 4.63 crore shares, with the price band fixed at Rs.615-648 per share.

Retail investors can apply for a minimum of 23 shares in one lot and up to 13 lots. At the upper end of the IPO price band, Rs.648 per share...