WeWork India is set to open its initial public offering (IPO) on October 3, 2025, with the subscription window closing on October 7, 2025. The IPO, priced between ₹615 and ₹648 per share, seeks to raise between ₹2,847 crore and ₹3,000 crore. The issue has no fresh issue and is purely an offer for sale by promoters and shareholders of 4.63 crore shares.
The allotment will be finalised on October 8 and the shares are likely to list on the NSE and BSE on October 10.
Here are the 10 most important things to know from the company’s Red Herring Prospectus (RHP):
1) About the Firm: WeWork India Management Limited, established in 2016, has emerged as a leading flexible workspace operator in the country. The company offers a wide range of workspace solutions, including custom-designed buildings, enterprise office suites, managed offices, private offices, co-working spaces, and hybrid digital models, catering to diverse client requirements.
Its offerings are designed to provide high-quality, adaptable workspaces for a varied clientele that spans large enterprises, small businesses, startups, and independent professionals.
2) IPO Objectives: The company will not benefit from the Offer proceeds. All funds raised will go to the selling shareholder, net of offer-related expenses and applicable taxes, which shall be borne by the selling shareholder.
Basis of allotment: October 8, 2025
Refund initiation: October 9, 2025
Demat credit: October 9, 2025
Listing date (tentative): October 10, 2025, on BSE and NSE
4) Selling Shareholders: WeWork India’s promoter, Embassy Buildcon LLP, is set to offload 3.54 crore shares, while investor Ariel Way Tenant Ltd (WeWork International) will divest 1.089 crore shares. Ahead of the IPO, Embassy Buildcon LLP holds a 73.56 percent stake in the company, whereas WeWork International owns 22.64 percent.
5) Peers: Awfis Space Solutions is the only listed peer of the company.
The IPO allocation is as follows-
QIBs: Not More than 75% of the Net Issue
NIIs: Not more than 15% of the Net Issue
Retail investors: Not more than 10 percent of the Net Issue
7) Financial Performance: WeWork India reported a 19.3 percent year-on-year increase in its June quarter revenue, which rose to ₹535.3 crore from ₹448.6 crore in the corresponding quarter of the previous year.
The company posted an adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of 18.05 percent in the first quarter, compared to 21.67 percent in the same period last year.
During the quarter under review, WeWork India recorded a net loss of ₹14.1 crore, an improvement from the net loss of ₹29.1 crore reported in the year-ago quarter. Its average revenue per member or billed desk fell 3.3 percent to ₹19,085 as against ₹19,744 in the previous year.
8) WeWork Global: WeWork India pays management fees to WeWork Global as a fixed percentage of its revenue. In FY24, management fee expenses accounted for 3.65 percent of revenue from operations, down from 4.02 percent in the previous year. The company’s total borrowings stood at ₹389 crore as of June 2025.
Service and ancillary revenues—including customisation, parking, additional meeting rooms, event spaces, advertising, and food and beverage services—contributed 9.7 percent to overall revenue.
9) India Footprint: Since its inception in 2017, WeWork India has expanded its footprint to 68 centres across eight cities, with a total capacity of 1.14 million desks. Bengaluru houses the largest share at 46.1 percent, followed by Mumbai at 22.64 percent. Beyond workspace rentals, the company also generates ancillary revenue streams from services such as customisation, parking, meeting rooms, events, advertising, and food services, which account for 9.7 percent of overall revenue.
10) Book-running managers: JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, 360 ONE WAM are the book running lead managers for the issue.
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