- The IPO’s price band has been approved in the range of ₹615–₹648 per share
- The anchor investors can bid on Wednesday, October 1
- Investors can place bids for a minimum of 23 shares and in multiples thereafter
NE BUSINESS BUREAU
AHMEDABAD, SEPT 30
Co-working major WeWork India on Tuesday announced is set to launch its IPO on October 3, 2025, with an Offer for Sale (OFS) of existing shares worth about ₹3,000 crore. The offering will close on Tuesday, October 7, and anchor investors can bid onWednesday, October 1, as per the company’s Red Herring Prospectus (RHP).
Price Band
The IPO’s price band has been approved in the range of ₹615–₹648 per share. Investors can place bids for a minimum of 23 shares and in multiples thereafter
Offer Structure & Listing Details
The IPO is fully an OFS—no fresh capital will be raised by WeWork India itself. Embassy Buildcon LLP (the promoter) is offering up to 3.34 crore shares, while 1 Ariel Way Tenant Ltd (WeWork Global’s investor arm) will offload 1.03 crore shares. Prior to the IPO, Embassy Group’s stake stood at 76.21%, and WeWork Global held 23.45%.
Financial Turnaround & Performance
The company recorded its first-ever profit in FY25, with PAT of ₹128.2 crore—turning around from a loss of ₹135.7 crore in FY24. (The Flex Insights). This profitability was boosted by a deferred tax gain of ₹285.7 crore, even though operating results still showed a pre-tax loss. Revenue for FY25 rose ~17% to ₹1,949.2 crore, up from ₹1,665.1 crore in FY24.) As of FY24, the company had net debt of ₹529.43 crore.). In FY24, its core operations generated ₹1,665.14 crore in revenue (versus ₹1,314.52 crore in FY23).
Promoter & Leadership Voices
Karan Virwani, MD & CEO of WeWork India and scion of the Virwani / Embassy group, has been actively leading the listing drive. Though the IPO will not inject fresh capital into WeWork India, the promoters have expressed that the listing is essential to provide liquidity to early investors, enhance brand visibility, and expand institutional participation in the stock. Analysts and media have noted that the Indian arm has largely insulated itself from the turbulence of WeWork Global’s U.S. business, operating with a more disciplined model.
Company profile
WeWork’s centres are located across Bengaluru, Mumbai, Pune, Hyderabad, Gurgaon, Noida, Delhi and Chennai. The company benefits from WeWork Global, a pioneer of flexible office space globally with around 600 wholly-owned and licensed locations in 35 countries. As of September 2024, WeWork India’s portfolio comprised 94,440 desks across 59 operational centres with an aggregate leasable area of 6.48 million square feet.
Since the IPO is pure OFS, no funds accrue to WeWork India, making the success heavily reliant on investor confidence in its fundamentals. The turnaround to profit is aided by one-time tax gains; operational profitability still needs to prove sustainable in coming quarters. The global WeWork legacy, including past losses and restructuring, may shadow investor perceptions, even though the Indian arm is separate in operations.
75% of the shares are reserved for qualified institutional buyers (QIB), 15% for non-institutional investors (NII) and 10% for retail investors.
Listing and lead managers
The shares are expected to list on the BSE and NSE.
The lead managers to the offer are JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital Capital Company Limited, and 360 One Wam Limited.
