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WeWork India Management IPO
1.15xsubscribed

WeWork India Management IPO

listed
₹14,145Min. investment

WeWork India Management Limited IPO Details

Price range₹615 – ₹648
IPO type
Regular
Lot size23 shares
Issue size₹3,000Cr
Red Herring Prospectus
Read

WeWork India Management IPO Subscription Status

Date
QIB
NII
Retail
Total
03-Oct-25
0.0 times (X)
0.02 times (X)
0.15 times (X)
0.04 times (X)
06-Oct-25
0.0X
0.06X
0.38X
0.13X
07-Oct-25
1.14X
0.21X
0.61X
1.15X

As on 03-Oct-25, 5:30 PM

WeWork India Management IPO Timeline

  1. Pre-apply
    30 Sep 2025
  2. Bid start
    3 Oct 2025
  3. Bid end
    7 Oct 2025
  4. Allotment
    8 Oct 2025
  5. Release of funds
    9 Oct 2025
  6. Demat transfer
    9 Oct 2025
  7. Listing
    10 Oct 2025

About WeWork India Management Limited

Incorporated in 2016, WeWork India Management Limited is a premium flexible workspace operator in India, providing flexible, high-quality workspaces to its members, including large enterprises, small and mid-size businesses, startups, and individuals. The company leases primarily Grade A office space from developers and transforms these spaces into fully managed, modern, tech-enabled offices.
As of June 2025, 94% of its portfolio was in Grade A developments. The company operates across 8 major cities with presence in 68 operational centres comprising 114,077 desks across 7.67 msf of leasable area.
The company offers a comprehensive range of flexible workspace solutions, including private offices, office suites, customised managed offices, serviced floors, co-working spaces, and hybrid digital solutions.
In FY25, the company reported 1.42 times the operational revenue and 2.45 times adjusted EBITDA compared to its peers, as per the CBRE report. For FY25, its average portfolio level revenue to rent multiple of 2.7 exceeded the industry average, which generally lies in the range of 1.9 to 2.5. As of June 2025, the occupancy rate stood at 76.48% for operational centres and 81.23% for mature centres. Beyond its core workspace offerings, the company generates revenue from value-added services, including customisation, parking, event spaces, food and beverage services, and office infrastructure services.
As of June 2025, the top 10 clients contributed 23.15% with no single client accounting for more than 10% of net membership fees, with the top client contributing 7.50%. Enterprise members contributed 75.67% of net membership fees, while international clients at 65.93% as of June 2025. It serves 2,215 clients, including marquee names such as Amazon Web Services India Private Limited, JP Morgan Services India Private Limited, Discovery Communications India, Deutsche Telekom Digital Labs Private Limited, CBA Services Private Limited, and Grant Thornton Bharat LLP. The weighted average membership tenure with large enterprise members as of June 30 2025, was 31 months.
The company maintained a NPS score of 74.8 in FY25. It maintained a renewal rate of 70.1% and an adjusted renewal rate of 74.07% Q1FY26. It has a Net ARPM (Average Revenue per Member per Billed Desk) of ₹19,085 and a Revenue to Rent Multiple of 2.61 for Q1FY26. The company maintained a healthy asset-liability ratio with remaining locked-in net membership fees of ₹2,104.47 crore versus the remaining locked-in rent cost of ₹885.17 crore as of June 30, 2025.
As per the CBRE report, the number of companies with over 10% of their office space being flexible is forecast to jump from 42% in the first quarter of 2024 to 59% by 2026 and flexible workspace stock in top 9 tier 1 cities grew from 35 msf in 2020 to 88+ msf in Q1FY26 and is expected to grow at a CAGR of 18-20% to reach 140 to 144 msf at the end of 2027. The demand for flexible workspaces has been fuelled further by an increasing focus by end users on flexibility, capital efficiency, cost optimisation, hybrid working, employee well-being, and a focus on core business activity, amongst other things.
In view of industry developments, the company is planning to deepen its presence in existing cities and expand in key micro-markets, continue focusing on unit economics, invest in new products and technology to diversify revenues, and maintain its data-backed and tech-based approach to expansion. It also intends to acquire GCC customers as India has the largest share of GCC units globally, with 2,975+ units as of FY24. The company can provide customised offices for large teams with the technology infrastructure required to operate a GCC.
Now, WeWork India Management is launching its book-building issue, which consists of an offer for sale of ₹3,000 crore. Its shares will be listed on the NSE and BSE.

Wework India Management Limited IPO Analysis

IPO REVIEW

WeWork India Management IPO | Analysis Video

Should you apply?

Watch our analysts break down the Wework India Management Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Strong brand recognition

According to AGR, the company consistently recorded the highest search volume throughout October 2023 to December 2024 (being 4x that of its closest competitor in the period of October 2023 to September 2024). The company has been ranked first among competitor flexible workspace operators identified by AGR in terms of brand awareness.

Presence in top-tier micro markets

The company has established multi-asset relationships with various prominent developers across major Tier 1 cities such as Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. Grade A properties accounted for approximately 94% of the portfolio, or 7.07 msf.

Extensive range of products and services

According to the CBRE Report, the company has one of the most extensive range of products and services in the flexible workspace industry in India and offers a wide range of services such as enterprise office suites, customised managed offices, co-working spaces and more. It offers high-quality workspaces, building and operating at Global Standards.

Diverse and long-standing customer base

As of June 30, 2025, the company had 87,247 members, serving a wide set of marquee clients, including large enterprises, MNCs, startups and individuals. Revenue from existing customers contributed 45.39%, 51.79%, 57.84% and 34.50% of the desks sold, which does not include renewals in the Q1FY26 and FY25, FY24 and FY23, respectively. It has continuously expanded its Total Contract Value -Net Membership Fees, with a CAGR of 32.46% from FY23 to FY25.

Objectives of Wework India Management Limited IPO

Carry out the offer for sale
The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders
Listing on stock exchanges
The company want to achieve the benefits of listing its shares on the stock exchanges.

WeWork India Management IPO Contact Details

Company NameWeWork India Management Limited

How to apply for WeWork India Management IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Wework India Management Limited IPO FAQs

Investors can apply for the WeWork India Management IPO through their Demat account via the stock exchange or through their broker.
The issue size of the WeWork India Management IPO is 3000 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
WeWork India Management IPO will be open between 2025-10-03 and 2025-10-07.
WeWork India Management IPO allotment date is 2025-10-09. For WeWork India Management IPO allotment status check, you can visit the website of the registrar of the IPO.
For WeWork India Management IPO, the IPO registrar is MUFG Intime India Private Limited. You can check WeWork India Management IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The WeWork India Management IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The WeWork India Management IPO lot size is 23 and minimum order quantity is 23.
WeWork India Management IPO has set the price band for its IPO at 648 per equity share with a face value of 10.