Description

Details of lock-in arrangements for 13.40 crore equity shares of WeWork India Management Limited following its IPO, with various lock-in periods ranging from 30 days to 3 years.

Summary

BSE has listed 13,40,23,259 equity shares of WeWork India Management Limited following its IPO. The circular provides comprehensive details of lock-in arrangements for different categories of shareholders, with lock-in periods ranging from 30 days for certain anchor investor shares to up to 3 years (until April 2027) for promoter and other locked-in shares. All shares are in demat form.

Key Points

  • Total equity shares listed: 13,40,23,259 shares (all in demat form)
  • Listing date: October 8, 2025
  • 2,54,89,748 equity shares are fully paid-up and not under lock-in (freely tradable)
  • 10,85,33,511 equity shares are under various lock-in arrangements
  • Anchor investor allocation: 2,08,06,548 shares with two different lock-in periods
  • Multiple lock-in expiry dates: November 6, 2025; January 5, 2026; April 10, 2026; and April 10, 2027
  • Registered office: 6th Floor, Prestige Central 36, Infantry Road, Shivaji Nagar, Bengaluru 560 001, Karnataka
  • Company Secretary: Udayan Shukla (Membership No.: F11744)

Lock-in Schedule Details

Anchor Investors

  • 1,04,03,261 shares: 30-day lock-in (expires November 6, 2025)
  • 1,04,03,287 shares: 90-day lock-in (expires January 5, 2026)

Promoter and Pre-IPO Shareholders

  • 1,00,32,881 shares: Lock-in until November 6, 2025
  • 1,00,32,906 shares: Lock-in until January 5, 2026
  • 85,09,214 shares: Lock-in until April 10, 2026
  • 4,23,27,537 shares: Lock-in until April 10, 2026
  • 91,08,733 shares: Lock-in until April 10, 2026
  • 2,53,71,450 shares: Lock-in until April 10, 2027 (3-year lock-in)
  • 24,10,029 shares: Lock-in until April 10, 2027 (3-year lock-in)

Freely Tradable

  • 2,54,89,748 shares: No lock-in restrictions

Compliance Requirements

  • All locked-in shares must remain non-transferable until respective lock-in expiry dates
  • Shareholders must comply with lock-in conditions as detailed in the prospectus (pages 138-140)
  • Distinctive numbers provided are for presentation purposes only as all shares are in demat form
  • Company must maintain records of lock-in shares and ensure compliance with SEBI IPO regulations

Important Dates

  • October 8, 2025: Listing date (lock-in commencement)
  • November 6, 2025: First lock-in expiry (1,04,03,261 anchor investor shares + 1,00,32,881 other shares)
  • January 5, 2026: Second lock-in expiry (1,04,03,287 anchor investor shares + 1,00,32,906 other shares)
  • April 10, 2026: Third lock-in expiry (5,99,45,484 shares)
  • April 10, 2027: Final lock-in expiry (2,77,81,479 shares with 3-year lock-in)

Impact Assessment

Market Impact: The staggered lock-in expiry schedule will result in gradual increase in free float over the next 2.5 years. The immediate free float of approximately 2.55 crore shares (19% of total) provides reasonable liquidity for initial trading. Investors should monitor lock-in expiry dates as they may impact stock price due to potential selling pressure, particularly on November 6, 2025, when the first significant tranche becomes tradable.

Liquidity Impact: The 30-day and 90-day anchor investor lock-ins expiring in November 2025 and January 2026 will add approximately 2.08 crore shares to free float relatively quickly, potentially increasing volatility. The longer lock-in periods extending to April 2027 provide price stability by preventing immediate large-scale selling by promoters and early investors.

Investor Considerations: Retail and institutional investors should be aware of the lock-in schedule when making investment decisions, as approximately 81% of shares are currently locked in with systematic release over 2.5 years.

Impact Justification

Standard IPO listing circular detailing lock-in schedules for a new listing; important for investors tracking lock-in expiry dates but routine procedural disclosure