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WeWork India Management's shares debuted on the NSE and BSE with limited movement, initially trading slightly above the issue price before dipping. The INR 3,000 crore IPO was fully an offer for sale, with promoter group Embassy Buildcon LLP and WeWork Global's affiliate divesting their stakes. The IPO received 1.15 times subscription on the last day and raised over INR 1,348 crore from anchor investors. The listing is intended to provide liquidity to shareholders, enhance visibility, and create a public market. The company manages 77 lakh sq ft across Tier-1 cities.
WeWork India Management, a leading co-working space operator, saw its shares debut on stock exchanges with limited movement. On the NSE, the stock opened at INR 650 per share, showing a slight 0.31% premium over the issue price, but later dropped by 3.84% to INR 623.10. On the BSE, shares began trading at INR 646.50, marginally below the issue price by 0.23%. After listing, the company's market valuation on the BSE reached INR 8,598.93 crore. Advertisement
The company's IPO, valued at INR 3,000 crore, carried a price band of INR 615-648 per share. The public issue was entirely an offer for sale of up to 4.63 crore equity shares. Promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd, part of WeWork Global, divested their stakes through this offering. The IPO received 1.15 times subscription on the final day of bidding, while anchor investors contributed over INR 1,348 crore prior to the public issue.
In its draft papers, WeWork India stated that the listing aims to enhance visibility, provide liquidity to existing shareholders, and establish a public market for its shares in India. Founded in 2017, WeWork India operates under an exclusive license of the WeWork brand and is promoted by Bengaluru-based real estate developer Embassy Group.
WeWork India currently operates across major Tier-1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. The company manages a total of 77 lakh sq ft of space, with 70 lakh sq ft already operational. Its facilities have a desk capacity of 1.03 lakh, supporting a workforce of over 500 employees. This broad operational footprint reflects the company's significant presence in India's flexible workspace market and its strategic expansion across key urban centers.
Source PTI
5th Jun, 2025
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