WeWork India IPO to open on October 3
WeWork India is going public on October 3, aiming to raise about ₹3,000 crore by selling nearly 4.63 crore shares through an Offer for Sale.
The shares will be offloaded by Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd (part of WeWork Global).
Anchor investor bidding opens October 1, and the IPO wraps up on October 7.
The company runs flexible workspaces across major cities
Launched in 2017, WeWork India runs flexible workspaces under the Embassy Group across major cities like Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi and Chennai.
With more than 500 employees and space for more than one lakh desks across 77 lakh sq ft of office area, it caters to startups and growing teams.
Embassy Group is the largest shareholder
Embassy Group owns about 76% of the company; WeWork Global holds around 23%.
Earlier this year (January 2024), it raised ₹500 crore through a rights issue to cut debt and fuel growth.
The shares are expected to list on stock exchanges by October 10.