WeWork India Set for Landmark IPO: A New Chapter in Co-Working Revolution

Co-working giant WeWork India is poised to launch its initial public offering (IPO), revealing a price range of Rs 615 to Rs 648 per share, aiming to raise Rs 3,000 crore. The listing is entirely an Offer-for-Sale (OFS), with the promoter and major investors earmarked to divest stakes.

The IPO process is set to open for public bidding between October 3 and October 7, with anchor investor bids starting October 1. Notably, the proceeds will not benefit WeWork India directly but will go to the selling investors. Currently, the Embassy Group and WeWork Global own 76.21% and 23.45% of the company, respectively.

Founded in 2017, the company operates under the well-regarded WeWork brand across major Indian cities, managing a significant amount of office space. The public offering aims to increase share visibility and market presence. The IPO comes after significant investments, including a Rs 500 crore rights issue early in 2024.