Upcoming IPO: WeWork India Gets SEBI Nod for IPO

WeWork India, India’s leading workspace operator, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its Initial Public Offering (IPO). The company filed its DRHP (Draft Red Herring Prospectus) on 31st Jan, 2025. 

The proposed issue is entirely an Offer for Sale (OFS) component of 4.37 crore equity shares, meaning WeWork India will not receive any proceeds from the public issue. 

Embassy Buildcon LLP and 1 Ariel Way Tenant Limited are among the selling shareholders. The offering is purely an exit route for existing stakeholders, and the company will not receive any proceeds from the IPO. 

Book-running lead managers for the IPO are JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM. MUFG Intime India Private Limited is the registrar. 

Founded in 2017, WeWork India operates over 59 centers with approximately 94,400 desks across six major cities: Bengaluru, Mumbai, Delhi-NCR, Pune, Hyderabad, and Chennai. 

The company’s revenue from operations increased by 67.58%, from ₹784.43 crore in fiscal 2022 to ₹1,314.52 crore in fiscal 2023, and further grew by 26.67% to reach ₹1,665.14 crore in fiscal 2024.

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