WeWork India set to launch Rs 3,000 Cr IPO on Oct 3

Managed office space provider WeWork India is set to launch its Rs 3,000 crore (about $340 million) IPO on October 3, 2025, which will close on October 7. Anchor investor bidding will open on October 1.

This development comes a little over two months after the company received approval from the Securities and Exchange Board of India (SEBI) to launch its IPO.

According to the company’s red herring prospectus (RHP), the entire IPO will be an offer for sale (OFS) of 4.63 crore shares in the price band of Rs 615–648. At the upper end of the range, the issue size works out to around Rs 3,000 crore.

Promoter entity Embassy Buildcon LLP will offload 3.54 crore shares worth about Rs 2,294 crore, while 1 Ariel Way Tenant, an affiliate of WeWork Global, will sell up to 1.08 crore shares valued at around Rs 706 crore, based on the upper price band of Rs 648.

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

The IPO will be managed by JM Financial, ICICI Securities,Jefferies, Kotak,and 360 One, while MUFG Intime will act as registrar.

WeWork India, the exclusive licensee of the WeWork brand in the country, is majority-owned by real estate major Embassy Group. The company operates 114,077 desks across 68 centres in key cities such as Bengaluru, Mumbai, and Delhi-NCR, with Grade A properties accounting for 94% of its portfolio.

For the fiscal year ended March 2025, WeWork India’s operating revenue grew 17% to Rs 1,949 crore, while the company swung to a profit of Rs 128 crore compared to a loss of Rs 135.7 crore in FY24.

With this IPO, WeWork India will join listed peers such as Awfis, which went public in May last year and is currently trading at Rs 569 with a market cap of Rs 4,073.5 crore ($463 million). Other recently listed co-working players include Indiqube is trading at Rs 228 (market cap $544 million) and Smartworks at Rs 562.75 ($730 million) as of 11:37 AM.