WeWork India Set for Grand IPO Launch: What Lies Ahead?
WeWork India is launching its IPO on October 3, targeting nearly Rs 3,000 crore. This Offer for Sale involves Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd offloading shares. Founded in 2017, WeWork India operates extensively across India's major cities and anticipates debuting on exchanges by October 10.
- Country:
- India
Co-working giant WeWork India is poised to make waves as it embarks on its initial public offering (IPO) journey on October 3. Sources familiar with the development have pegged the issue size at a substantial Rs 3,000 crore.
The IPO will run until October 7, with anchor investor bidding slated for a day on October 1, according to the red herring prospectus (RHP). The offering comprises a complete Offer for Sale (OFS) of up to 4.63 crore equity shares from promoters Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd, associated with WeWork Global.
Founded in 2017 under the exclusive license of the 'WeWork' brand in India, the company, backed by Bengaluru-based Embassy Group, aims to achieve the benefits of listing its shares, enhance market visibility, and offer liquidity. As it operates across major Indian cities, WeWork India is set to debut on the stock exchanges on October 10.
(With inputs from agencies.)
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- WeWork Global
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