WeWork, Tata Capital, LG Electronics IPOs: Where should you bet your bucks?

WeWork India, Tata Capital, and LG Electronics India are aiming to collectively raise over ₹30,000 crore through the primary markets, marking one of the busiest weeks for primary issuances this year

The IPO market has heated up this week with three high-profile companies opening their public issues, including WeWork India, Tata Capital, and LG Electronics India. Together, the three companies are aiming to raise over ₹30,000 crore through the primary markets, marking one of the busiest weeks for primary issuances this year. Tata Capital aims to raise ₹15,511.87 crore, LG Electronics ₹11,607 crore, and WeWork India around ₹3,000 crore, according to offer documents.

 

WeWork India IPO, which opened on Friday, October 3, has entered its second day of bidding and was subscribed only 8 per cent as of 12:00 PM on Monday, October 6. The issue will close on Tuesday, October 7.  Meanwhile, Tata Capital's much-anticipated IPO opened on October 6 and will remain open until Thursday, October 8. Within two hours of bidding, the issue has been subscribed by 21 per cent, receiving bids for 71.12 million equity shares against the issue size of 333.43 million shares.

 

 

LG Electronics India is set to launch its ₹11,607-crore issue on Tuesday, October 7, making it the third large offering within five days.

WeWork vs Tata Capital vs LG IPO: Where to invest? Here's what brokerages and market trends suggest:

Analysts' recommendations and grey market activity suggest stronger near-term sentiment for LG Electronics, while Tata Capital is being viewed as a long-term structural play. WeWork India has seen mixed responses with brokerages flagging both growth potential and valuation concerns.

GMP shows strong interest in LG Electronics IPO

Among the three, LG Electronics IPO has seen the strongest grey market premium (GMP) with the unlisted shares trading at ₹1,390, commanding a premium of ₹250 or 22 per cent against the upper end of the price band of ₹1,080 to ₹1,140 as of Monday. 

 

Tata Capital's unlisted shares are commanding a moderate GMP of ₹7.5 or 2.3 per cent, reflecting stable but measured investor interest. In contrast, WeWork India's unlisted shares were trading almost flat at ₹653, a premium of ₹5 or 0.77 per cent from the upper end of the price band of ₹615 to ₹648.

 

While grey market trends are unofficial and unregulated, these are widely watched for indications of likely listing-day performance.

Street view on the IPOs

Most brokerages have a positive view on Tata Capital IPO, citing strong fundamentals, diversified lending, long-term growth potential, and backing of the Tata Group as key positives.

 

According to Arihant Capital, more than 97 per cent of Tata Capital's customer onboarding is digital. Retail and housing finance are growing fast at a CAGR of 30-40 per cent, while synergies from the merger with Tata Motors Finance (TMFL) will strengthen vehicle finance, it added.  The brokerage values the IPO at a price to book value (P/BV) of 4.03x at the upper band. It has a "Subscribe for long-term" rating for the IPO.

 

Echoing similar views, analysts at Anand Rathi Research said the company's wide product portfolio and focus on reducing credit costs position it well for sustainable growth. The brokerage, too, assigned a "Subscribe - long term" rating.

 

However, SBI Securities flagged a temporary dip in profitability following the TMFL merger. It values the issue at a P/BV multiple of 3.4x on post-issue capital.

 

As regards WeWork India IPO, analysts remain more cautious. SBI Securities maintained a neutral view. The IPO's valuation at a P/E of 50.1x is "fairly priced", according to the brokerage, despite profitability in FY25.  Arihant Capital, meanwhile, recommended investors to "Subscribe for listing gain", highlighting high occupancy levels in mature centres and a capital-efficient lease model.  Anand Rathi Research, however, assigned a "Subscribe - Long Term" rating, pointing to strong enterprise demand and a revenue-to-rent multiple of 2.7x, above the industry average.

 

On LG Electronics India IPO, which is scheduled to open for subscription on October 7, 2025, brokerages are broadly positive given the company's market leadership, manufacturing strength, and brand recall. According to Choice Broking, the company is well-positioned to benefit from rising demand in both B2C and B2B segments. 

 

SBI Securities highlighted the company's robust Revenue/Ebitda/PAT CAGR of 10.8 per cent/28.0 per cent/27.8 per cent during FY23-FY25 and valuation at a P/E of 35.1x on FY25 earnings. When comparing to its closest peers, the company outshines them in most valuation parameters with superior return profile, it said. LG Electronics India IPO has a "Subscribe" rating from both Choice Broking and SBI Securities.