WeWork India IPO

IPO Details

Bidding Dates

03 Oct '25 - 07 Oct '25

Minimum Investment

₹14,904/ 1 Lot (23 Shares)

Price Range

₹615 to ₹648

Maximum Investment

₹1,93,752/ 13 Lot (299 Shares)

Retail Discount

Issue Size

₹3,000.00 Cr

Investor category and sub category

Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |

WeWork India IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Oct 03, 25

IPO Closing Date

Oct 07, 25

Basis of Allotment

Oct 08, 25

Initiation of Refunds

Oct 09, 25

IPO Listing Date

Oct 10, 25

WeWork India IPO Details

WeWork India IPO is a book-built issue worth ₹3,000.00 crore. The issue is entirely an offer for sale (OFS) of 4.63 crore shares, raising the total issue size. The IPO will open for subscription on October 3, 2025, and close on October 7, 2025.

The basis of allotment is expected to be finalised on October 08, 2025, with tentative listing scheduled on BSE and NSE for October 10, 2025. The price band for the WeWork India IPO has been fixed between ₹615 to ₹648 per share.

Investors can bid for WeWork India IPO with a minimum of 1 lot of 23 shares. For retail investors, the minimum investment required is ₹14,904. For small non-institutional investors (sNII), the lot size stands at 14 lots, equal to 322 shares, amounting to ₹2,08,656. For big non-institutional investors (bNII), the lot size is 68 lots, which translates to 1,564 shares, requiring an investment of ₹10,13,472.

JM Financial Ltd, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital

Company Limited, and 360 ONE WAM Limited are the book running lead manager (BRLM) and MUFG Intime India Pvt Ltd is the registrar of the issue. Detailed information is available in the WeWork India IPO RHP.

WeWork India IPO Objectives

WeWork India IPO is entirely an OFS; the company will not be receiving any offer proceeds. All the funds raised will be taken over by the selling shareholders.

About WeWork India Limited

Incorporated in 2016, WeWork India Management Limited has established itself as a leading operator in the premium flexible workspace segment in India. Over the past three fiscal years, the company has consistently been the largest player in the sector by total revenue, underscoring its dominant market position and influential role in shaping the flexible workspace industry in the country.

WeWork India is the exclusive licensee of the globally recognized WeWork brand in India. The company has been instrumental in driving the adoption and evolution of flexible workspace solutions, offering high-quality, custom-designed office environments tailored to the needs of a diverse clientele. Its members include large enterprises, mid-sized businesses, startups, and individual professionals.

As per the CBRE Report, the company has successfully built multi-asset partnerships with prominent real estate developers across major Tier 1 cities. It primarily leases Grade A commercial office spaces and transforms them into world-class flexible workspaces that align with international standards in design, functionality, and user experience.

As of June 30, 2025, WeWork India operated 68 centres with a total desk capacity of 114,077 across eight key Indian cities. Among these, Bengaluru and Mumbai have been major contributors to its net membership fee revenues during the reported periods.

The company’s client portfolio includes several 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, reflecting the trust and preference of leading global and domestic organizations in its offerings.

Industry Outlook

The real estate sector plays a vital role in the Indian economy, contributing to multiple allied industries such as banking, construction, engineering, manufacturing, and cement. In Fiscal 2024, real estate ownership of dwellings and professional services accounted for approximately 17.6% of Gross Value Added, up from 14.2% in Fiscal 2014, reflecting strong sectoral growth.
Increased infrastructure development, business expansions, and the rise of startups have driven a surge in demand for office space, significantly contributing to the growth of the commercial office real estate sector and overall economic development.
India’s office real estate segment has expanded over 20 times in the last two decades, from approximately 44 million sq. ft. pre-2003 to 883 million sq. ft. as of March 31, 2025, showcasing rapid institutionalisation and investor interest in the commercial real estate space.
The Indian office stock is projected to grow at a CAGR of 6.7%, reaching approximately 1,072 million sq. ft. by CY2027, indicating continued momentum in demand and development across major business hubs.

How To Apply for the WeWork India IPO Online?

Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the WeWork India IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of WeWork India IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of WeWork India IPO

6 th Floor, Prestige Central 36, Infantry Road, Shivaji Nagar Bengaluru 560 001 Karnataka, India

Phone: +91 88 8456 4500

E-mail: cswwi@wework.co.in

WeWork India IPO Reservation

Investor Category	Shares
QIB (Qualified Institutional Buyers)	Not More than 75% of the Net Issue
Retail Individual Investors (RII)	Not more than 10.00% of the Net Issue
NII (Non-Institutional Investors)	Not more than 15.00% of the Net Issue

WeWork India IPO Lot Size Details

Application	Lots	Shares	Amount
Retail (Min)	1	23	₹14,904
Retail (Max)	13	299	₹1,93,752
S-HNI (Min)	14	322	₹2,08,656
S-HNI (Max)	67	1,541	₹9,98,568
B-HNI (Min)	68	1,564	₹10,13,472

WeWork India IPO Promoter Holding

Jitendra Mohandas Virwani, Karan Virwan, and Embassy Buildcon LLP are the promoters of the company.

Share Holding Pre-Issue	73.56%
Share Holding Post Issue&nbsp	48.07%

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for WeWork India IPO

KPI	Value
RoNW (%)	63.80
PAT Margin (%)	6.33
EBITDA Margin (%)	63.41

WeWork India IPO Prospectus

WeWork India IPO Registrar and Lead Managers

WeWork India IPO Lead Managers

JM Financial Ltd
ICICI Securities Limited
Jefferies India Private Limited
Kotak Mahindra Capital
360 ONE WAM Limited

Registrar for WeWork India IPO

MUFG Intime India Pvt Ltd

Contact Number: +91 810 811 4949

Email Address: weworkindia.ipo@in.mpms.mufg.com

Financial Performance of WeWork India Limited

Particulars	3 Months Ended on June 30, 2025	Year ending on March 31, 2025	Year ending on March 31, 2024	Year ending on March 31, 2023
Revenue from Operations (in ₹ million)	5,353.10	19,492.11	16,651.36	13,145.18
Profit/loss After Tax (in ₹ million)	(141.47)	1,281.85	(1,357.73)	(1,468.10)
PAT Margin (%)	-2.59	6.33	-7.82	-10.32
EBITDA (in ₹ million)	3,354.19	12,359.51	10,437.91	7,956.10
EBITDA Margin (%)	62.66	63.41	62.69	60.52
Net Worth (in ₹ million)	1,889.69	1,996.98	(4,374.53)	(2,921.11)
Net Debt (in ₹ million)	2,972.69	2,153.33	3,928.17	3,391.03

Know before investing

Strengths

WeWork India enjoys strong brand recognition and leadership, maintaining the highest search volumes in the flexible workspace sector from October 2023 to December 2024.
The company holds a leadership position as the largest premium flexible workspace operator in India by revenue over the last three fiscal years.
It benefits from the backing of Embassy Group, a top Indian real estate developer with over 30 years of experience, and its strategic partnership with global operator WeWork.
The company operates primarily in Grade A properties located in top-tier micro markets, leveraging strong multi-asset relationships with prominent developers.
It offers one of the most extensive product and service portfolios in India’s flexible workspace industry, including enterprise suites, managed offices, co-working spaces, and hybrid digital solutions.

Risks

The company faces potential risks from ongoing Enforcement Directorate proceedings against its Promoter and Chairman under the Prevention of Money Laundering Act, 2002.
It may be adversely affected by the show cause notice issued to its Group Company under the Securities and Exchange Board of India Act, 1992.
Risks arise from the possible exercise of lenders' rights over pledged equity shares of one of the promoters.
The company is exposed to the risk of non-receipt of proceeds from the Offer for Sale portion during the IPO.
Future net losses, negative earnings per share, and cash flow reductions could materially impact financial stability.

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WeWork India Limited Peer Comparison

Company	Face Value (₹)	EPS	P/E Ratio	RONW (%)
WeWork India Limited	10	9.93	[●]	63.80
Awfis Space Solutions Limited	10	9.75	59.38	14.78
Smartworks Coworking Spaces Limited	10	-6.18	NA	-58.76
IndiQube Limited	1	-7.65	NA	NA