WeWork India's IPO: A Spin on Workspace Aspirations

WeWork India Management Ltd's initial public offering saw a subscription of 13 percent by day two, reflecting keen investor interest. The share sale extends until Tuesday, aiming to raise Rs 3,000 crore with share prices set between Rs 615 and Rs 648, valuing the company at Rs 8,685 crore.

The IPO, entirely an Offer for Sale, involves Embassy Buildcon LLP and Ariel Way Tenant Ltd reducing their stakes. Current stakeholders, Embassy Group and WeWork Global, hold 76.21 percent and 23.45 percent, respectively. The proceeds from this sale will benefit the selling shareholders directly.

WeWork India, operating under an exclusive WeWork brand license since 2017, anticipates the stock exchange listing to boost their visibility and liquidity. The firm extends its co-working services across major Indian cities, managing significant real estate assets and employing over 500 people.

(With inputs from agencies.)