Mumbai: WeWork India’s much-awaited initial public offering (IPO) has opened today, October 3, with a price band set at Rs 615–648 per share. The issue is entirely an offer-for-sale (OFS), with no fresh issue of shares. The IPO will remain open until October 7 and aims to raise Rs 3,000 crore. A total of 4.62 crore shares are being sold by existing shareholders — mainly promoter Embassy Buildcon LLP, offloading 3.54 crore shares, and 1 Ariel Way Tenant Ltd, selling up to 1.09 crore shares. Investors can bid for a minimum of 23 shares and in multiples thereafter.
The allocation is structured with up to 75 percent reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs), and 10 percent for retail investors. Ahead of the IPO, WeWork India successfully raised Rs 1,348.26 crore through its anchor book, pricing shares at the upper band of Rs 648. The anchor placement included 2.08 crore shares subscribed by 67 domestic and international institutional investors.
Several prominent Indian mutual funds participated, including HDFC Mutual Fund, ICICI Prudential, Aditya Birla Mutual Fund, Motilal Oswal, Axis Mutual Fund, and Canara Robeco. Notably, insurance firms such as Bajaj Allianz Life, SBI General Insurance, and Kotak Mahindra Life also invested. The offer attracted strong global interest as well, with foreign investors like Goldman Sachs Fund, Edelweiss MF, Whiteoak Capital MF, Allianz Global Investors, and UAE-based Al Mehwar Commercial Investments among the key subscribers.
Founded in 2017, WeWork India is a major player in the premium flexible workspace sector. It is the exclusive licensee of the global WeWork brand in India. The company operates 68 centres across Tier 1 cities including Bengaluru, Mumbai, Delhi, Pune, Hyderabad, Chennai, Noida, and Gurugram. As of June 2025, it manages a total leasable area of 7.67 million sq ft, with 94 percent in Grade A commercial spaces, offering over 1.14 lakh desks.
The company’s workspaces offer private offices, managed suites, meeting rooms, event spaces, wellness zones, and internet facilities. JM Financial, Jefferies, Kotak Mahindra Capital, ICICI Securities, and 360 ONE WAM are the lead managers of the issue.
