Advertisement
WeWork India is preparing for a INR 3,000 crore initial public offering with a share price band of INR 615 to INR 648, valuing the company around INR 8,685 crore. The OFS will allow Embassy Buildcon LLP and WeWork Global to sell their stakes, with proceeds going entirely to selling shareholders. Founded in 2017, WeWork India operates across major Tier-1 cities, managing 77 lakh sq. ft. of space. The IPO aims to enhance visibility, provide liquidity to existing investors, and create a public market for its shares.
WeWork India has set a price band of INR 615 to INR 648 per share for its upcoming initial public offering, valuing the company at around INR 8,685 crore at the upper end. The INR 3,000 crore IPO will be entirely an Offer-for-Sale (OFS), with existing shareholders, Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd, divesting their stakes. Since it is an OFS, WeWork India will not receive any proceeds; the funds will go entirely to the selling shareholders. Advertisement
The company, which began operations in 2017 under an exclusive license from the WeWork brand, is promoted by Bengaluru-based Embassy Group. Currently, Embassy Group holds 76.21 per cent in WeWork India, while WeWork Global owns 23.45 per cent. The IPO aims to list the company on stock exchanges, enhancing visibility, providing liquidity to existing shareholders, and creating a public market for its shares.
WeWork India had previously received USD 100 million from WeWork Global in 2021 and raised INR 500 crore through a rights issue in January 2024 to reduce debt and support expansion. The company operates in major Tier-1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai, managing 77 lakh sq. ft. of office space, of which 70 lakh sq. ft. is operational, offering a desk capacity of 1.03 lakh. The firm employs over 500 people.
The IPO allocation reserves 75 per cent for qualified institutional buyers, 15 per cent for non-institutional investors, and 10 per cent for retail investors. Bids can be placed for a minimum of 23 shares and in multiples thereafter. With subscriptions open in early October, WeWork India is expected to debut on stock exchanges shortly after.
Source PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
