WeWork India Announces Rs 3,000 Crore IPO Launch

WeWork India is gearing up to introduce its IPO valued at Rs 3,000 crore (approximately $340 million) on October 3, 2025, with the offer concluding on October 7. Bidding for anchor investors will commence on October 1. This announcement follows the company receiving clearance from the Securities and Exchange Board of India (SEBI) to proceed with its IPO just over two months prior.

According to the company’s red herring prospectus (RHP), the entire IPO is structured as an offer for sale (OFS) of 4.63 crore shares, priced between Rs 615 and Rs 648. At the upper limit of the pricing band, this translates to an issue size of approximately Rs 3,000 crore.

Details of the Upcoming IPO

The promoter entity, Embassy Buildcon LLP, plans to offload 3.54 crore shares valued at around Rs 2,294 crore. Additionally, 1 Ariel Way Tenant, affiliated with WeWork Global, intends to sell up to 1.08 crore shares, estimated at about Rs 706 crore based on the maximum price of Rs 648. As per the RHP, Embassy Buildcon held a 73.56% stake in WeWork India, while 1 Ariel Way Tenant owned 22.64% at the time of the filing.

Management of the IPO

The IPO will be overseen by JM Financial, ICICI Securities, Jefferies, Kotak, and 360 One, while MUFG Intime will serve as the registrar for the offering.

WeWork India’s Business Operations

WeWork India, as the exclusive licensee of the WeWork brand within the country, is predominantly owned by the real estate conglomerate Embassy Group. The firm currently operates 114,077 desks across 68 locations in major cities including Bengaluru, Mumbai, and Delhi-NCR, with 94% of its portfolio consisting of Grade A properties.

For the fiscal year ending March 2025, WeWork India reported a 17% increase in operating revenue, reaching Rs 1,949 crore. The company also achieved a profit of Rs 128 crore, reversing from a loss of Rs 135.7 crore reported in FY24.

Market Performance of Competitors

This IPO will see WeWork India join other publicly listed competitors such as Awfis, which made its market debut in May of the previous year and is presently trading at Rs 569, with a market capitalisation of Rs 4,073.5 crore ($463 million). Other recently listed co-working firms include Indiqube, currently trading at Rs 228 (market capitalisation of $544 million), and Smartworks, trading at Rs 562.75 ($730 million) as of 11:37 AM.