WeWork India IPO: ₹3,000 crore offer for sale to open on October 3, close on October 7

The issue will open on October 3 and close on October 7 and the bidding process for anchor investors will open on October 1.

The company has not yet disclosed lot size, issue price and portion of shares reserved for various categories of investors.

The company received market regulator, Securities and Exchange Board of India's (SEBI), approval to launch IPO in July.

Currently, Embassy Group holds about 76.21% in WeWork India, while WeWork Global owns 23.45%.

Established in 2017, WeWork India operates under an exclusive license of the 'WeWork' brand in India and is promoted by the Bengaluru-based real estate major Embassy Group.

In its draft papers, WeWork India stated that the objective of the offer is to achieve the benefits of listing its equity shares on the stock exchanges. The company expects the listing to enhance visibility, provide liquidity to existing shareholders, and establish a public market for its stock in India.

About WeWork India

WeWork India, launched in 2017, is a leading premium flexible workspace operator in India. It has played a key part in the growth of the flexible workspace sector in India. It provides workspace solutions to firms of all sizes, ranging from large enterprises to small and midsize businesses, startups and individuals.

In its DRHP, the company said it has developed long-term relationships with global marquee brands like JP Morgan Services India Pvt Ltd, Amazon Web Services India Pvt Ltd, Discovery Communications India, CBA Services Pvt Ltd, Deutsche Telekom Digital Labs Pvt Ltd, and Grant Thornton Bharat LLP.

As of September 2024, its portfolio comprised more than 94,000 desks across 59 operational centres.