WeWork India IPO To Open On Friday, Price Band Set At INR 615-648

Coworking space provider WeWork India has set a price band of INR 615 to INR 648 for its IPO, which is set to open on Friday (October 3).

The public issue will solely comprise an offer for sale of up to 4.62 Cr equity shares, as per the company’s red herring prospectus (RHP). This is slightly higher than the 4.37 Cr shares the company mentioned in its DRHP.

While promoter Embassy Buildcon LLP will offload up to 3.54 Cr shares via the OFS, WeWork International Ltd’s wholly owned subsidiary 1 Ariel Way Tenant Limited will sell up to 1.08 Cr shares. 

At the upper end of the price band, the selling shareholders will cumulatively raise INR 3,000 Cr. At INR 648, the company would be valued at INR 8,684 Cr (about $978.6 Mn)

The offer will close on October 7, while the bidding for anchor investors would take place on October 1.

Notably, Embassy Buildcon holds a 73.56% stake in WeWork India, while 1 Ariel Way Tenant has a 22.64% stake in the company.

Initially, WeWork India operated as the Indian arm of US-based coworking space provider WeWork Inc. The parent company filed for bankruptcy In November 2023 and managed to exit bankruptcy on the back of a court-approved reorganisation plan. 

WeWork India filed its DRHP on January 31, but SEBI kept the draft papers in abeyance in March. Subsequently, the IPO returned on track in July and the company got the market regulator’s approval for its IPO in the same month.

WeWork India is closer to becoming the fifth listed coworking space provider in the country, following Awfis, Smartworks, IndiQube and recently listed DevX.

On the financial front, WeWork India trimmed its net loss by 51.5% to INR 14.1 Cr in Q1 FY26 from INR 29.2 Cr in the year-ago quarter. Operating revenue jumped 19.3% to INR 535.3 Cr from INR 448.7 Cr in Q1 FY25.