WeWork India IPO opens October 3; price band ₹615–₹648
Entire IPO is an offer-for-sale; no fresh capital raised
Promoter Embassy Buildcon LLP to sell 3.34 crore shares; Ariel Way Tenant 1.02 crore shares
Coworking space provider, WeWork India IPO, is all set to open for bidding on Friday (October 3) with a price band of ₹615 to ₹648 apiece. The public issue will close on October 7, and the bidding for anchor investors will take place on October 1.
The public issue will consist of an Offer for Sale (OFS) of up to 4.37 crore equity shares and does not involve any fresh issuance of shares.
The IPO is a 100% book-built issue with equity shares proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The offer for sale includes up to 4.37 crore equity shares, of which promoter entity Embassy Buildcon LLP plans to sell up to 3.34 crore shares and investor 1 Ariel Way Tenant offloading up to 1.02 crore shares. Their average cost of acquisition for these shares stands at ₹162.83 and ₹65.88 per share, respectively.
The company’s DRHP stated that the IPO launch will only focus on improving WeWork’s market visibility and offer an exit or liquidity to existing shareholders. “There is no direct fund infusion into the business from this offering,” the document read.
Since this is a secondary sale, the company won’t get anything from the IPO proceeds, and all the proceeds from the OFS will go to the existing shareholders selling their shares. The issue has been structured to allocate 75% of the issue to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 10% to retail investors.
In addition, nearly 5% of the post-offer equity is reserved for eligible employees.
WeWork India FY25 Financials
The IPO-bound company has reported its first profit in the financial year 2025. The company posted a profit after tax (PAT) worth ₹128.2 crore in FY25 compared to a loss of ₹135.7 crore in FY24. Its operating revenue also grew 17% year-on-year to ₹1,949.2 crore.
The co-working space provider has attributed the growth to steady demand for flexible office spaces. It turned profitable in FY25 on the back of a deferred tax gain of ₹285.7 crore, up from ₹34.2 lakh booked in the previous fiscal year.
It has posted a pre-tax loss of ₹156.7 crore in FY25, up 15% from ₹136 crore in the previous year. This shows that WeWork India would have remained loss-making without the deferred tax gains.
The company’s depreciation and amortisation expenses surged 11% to ₹823.7 crore in FY25 from ₹744.1 crore in the previous financial year. Its spending under this head rose 18% to ₹597.8 crore from ₹507.7 crore in FY24.
WeWork India’s operating expenses rose 15% to ₹467.7 crore, up from ₹407.2 crore in FY24. Employee-related costs formed a significant portion of this increase, with benefits expense climbing 16% to ₹155 crore compared to ₹133.9 crore in the previous fiscal.
