WeWork India IPO: A Flat Debut on Stock Exchanges

WeWork India made a flat debut on Indian stock exchanges, listing at Rs 650 per share, which is a slight 0.3% premium over its issue price of Rs 648. The stock opened at Rs 646.5 on the Bombay Stock Exchange (BSE).

Details of WeWork India’s IPO

The WeWork India initial public offering (IPO) was available for subscription from October 3 to 7, 2025, featuring a price band ranging from Rs 615 to Rs 648 and requiring a minimum investment of Rs 14,145.

Offer Structure and Stakeholders

WeWork India’s IPO amounted to Rs 3,000 crore and was fully an offer-for-sale (OFS). The promoter entity, Embassy Buildcon LLP, sold shares valued at Rs 2,294 crore, while 1 Ariel Way Tenant, affiliated with WeWork Global, offloaded approximately Rs 706 crore worth of shares.

Subscription Performance

According to exchange data, the employee portion of the WeWork IPO was the most subscribed, at 1.87 times, while the overall issue was oversubscribed by 1.15 times. In other categories, Qualified Institutional Buyers (QIBs) were subscribed at 1.7 times, the retail portion reached 0.62 times, and Non-Institutional Investors (NIIs) saw a subscription level of just 0.2 times.

Ownership and Key Investors

As per the red herring prospectus (RHP) on the filing date, Embassy Buildcon retained a 73.56% stake in WeWork India, whereas 1 Ariel Way Tenant held 22.64% at that time.

During the initial public offering, WeWork India raised Rs 1,348.3 crore from anchor investors such as Whiteoak Capital, Goldman Sachs, Nippon India, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, Susquehanna Pacific Pty Ltd, Motilal Oswal, and Societe Generale, among others.

Market Performance

By the end of today’s trading session, shares of WeWork India closed at Rs 632, which reflects a decline of 2.77% from the opening price of Rs 650. This adjustment gives the company a total market capitalization of Rs 8,470.27 crore, equivalent to $963 million.

Financial Overview

For the fiscal year ending in March 2025, WeWork India reported an operating revenue increase of 17%, reaching Rs 1,949 crore. This growth allowed the company to transition to a profit of Rs 128 crore, recovering from a loss of Rs 135.7 crore incurred in FY24.