WeWork India Set to Launch IPO Amid Office Space Boom
WeWork India, a leading co-working company, has received Sebi's approval to launch an IPO amid growing demand for office spaces in major cities. The IPO will be an Offer for Sale to monetize investments. WeWork India reported a net loss in 2023-24 but returned to profit in early 2024-25.
- Country:
- India
Bengaluru-based co-working giant WeWork India has been given the green light by market regulator Sebi to launch its initial public offerings (IPOs). Eager to capitalize on the surging demand for office spaces, the IPO plan aims to facilitate the monetization of investments by its promoters.
Established in 2017 and backed by the renowned Embassy Group, WeWork India has been pioneering flexible workspace solutions. Despite posting a net loss in the fiscal year of 2023-24, the company has rebounded, recording a profit in the first half of the fiscal 2024-25 with a total income of Rs 960.76 crore during the April to September tenure.
WeWork India plans an Offer for Sale of 4.37 crore equity shares, involving Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd. Notably, this move aligns with a broader trend of co-working operators tapping into capital markets to fuel their expansion amidst growing demand for managed workspaces.
(With inputs from agencies.)
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