WeWork India makes a tepid stock market debut

Managed office space provider WeWork India made a flat debut on Indian stock exchanges, listed at Rs 650 per share, only 0.3% premium over its issue price of Rs 648. On BSE, the stock opened at Rs 646.5.

WeWork India’s IPO was open for subscription from October 3- 7, 2025, with a price band of Rs 615-648 and a minimum investment of Rs 14,145.

WeWork India’s Rs 3,000 crore initial public offering (IPO) was entirely an offer-for-sale (OFS), with the promoter entity, Embassy Buildcon LLP, selling shares worth Rs 2,294 crore, and 1 Ariel Way Tenant, an affiliate of WeWork Global, offloading shares valued at around Rs 706 crore.

According to exchange data, WeWork IPO saw the employee portion as the most subscribed at 1.87x, while the overall issue was oversubscribed 1.15 times. Among other categories, QIBs (ex-anchors) were subscribed 1.7x, the retail portion 0.62x, and NIIs just 0.2x.

As on the date of RHP, Embassy Buildcon held 73.56% stake in WeWork India, while 1 Ariel Way Tenant owned 22.64% at the time of filing.

During its IPO, the company raised Rs 1,348.3 crore from anchor investors, including 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.

At the end of today’s trading session, WeWork India’s shares closed at Rs 632, down 2.77% from the opening price of Rs 650, giving the company a total market capitalization of Rs 8,470.27 crore ($963 million).

For the fiscal year ended March 2025, WeWork India’s operating revenue rose 17% to Rs 1,949 crore, helping the company swing to a profit of Rs 128 crore from a loss of Rs 135.7 crore in FY24.