WeWork India IPO to open on October 3; check price band, issue size & other key details

Co-working major WeWork India will open its initial public offering (IPO) for subscription on Friday, 3 October, with a price band of Rs 615-Rs 648 per share. The issue, a pure offer for sale (OFS), aims to raise between Rs 2,847 crore and Rs 3,000 crore. Retail investors can bid for a minimum lot of 23 shares, amounting to Rs 14,904 per lot.

75% of the shares are reserved for qualified institutional buyers (QIB), and 15% for non-institutional investors (NII). The allotment will be finalised on 8 October, and listing is expected on the National Stock Exchange and Bombay Stock Exchange on 10 October. JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM are the book running lead managers.

The IPO involves only existing shareholders selling their stakes; no new shares will be issued. Promoter Embassy Buildcon LLP will sell 3.54 crore shares, and 1 Ariel Way Tenant Ltd (WeWork International) will sell 1.089 crore shares. Before the IPO, Embassy Buildcon LLP holds 73.56% and WeWork International holds 22.64% in the company.

Founded in 2017, WeWork India operates 68 centres with a total capacity of 1.14 million desks in eight cities. Bengaluru accounts for 46.1% of this capacity, and Mumbai 22.64%. Service and ancillary revenues—including customisation, parking, meeting rooms, events, advertising, and food services—make up 9.7% of total revenue.

For the June quarter, WeWork India reported revenue of Rs 535.3 crore, up 19.3% from Rs 448.6 crore a year ago. Adjusted EBITDA margin was 18.05%, down from 21.67% last year. The company posted a net loss of Rs 14.1 crore, an improvement from a Rs 29.1 crore loss the previous year. Average revenue per member or billed desk fell 3.3% to Rs 19,085.

WeWork India pays management fees to WeWork Global as a percentage of revenue, amounting to 3.65% of revenue in FY24, down from 4.02% the previous year. Borrowings stood at Rs 389 crore as of June 2025.

Recent acquisitions include Zoapi Innovations, a cloud-based video conferencing platform (December 2022), and a 37.5% stake in Upflex Anarock India, an online coworking aggregator (October 2023). There is no information in the context about grey market premium (GMP), subscription status, or analyst opinions. Key IPO dates are: opening on 3 October, closing on 7 October, allotment on 8 October, and listing on 10 October.