WeWork India sets ₹3,000cr IPO: 10 things to know
WeWork India is gearing up for its IPO, setting a price band of ₹615-648 per share and aiming to raise close to ₹3,000 crore.
The offer is a pure sale of shares, with Embassy Buildcon selling up to 35.4 million shares and One Ariel Way offloading 10.89 million.
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What does WeWork India do?
Started in 2017, WeWork India takes top-grade office spaces and transforms them into flexible workspaces that suit everyone—from big companies to freelancers.
As of September 2024, they run 59 centers across major cities with over 94,000 desks, and they have Tier II cities on the radar for potential future expansion if demand and supply conditions are met.
Promoter Embassy Group pumped in ₹500cr earlier this year
Earlier this year (January 2024), promoter Embassy Group pumped in nearly ₹500 crore to clear high-cost debt—giving the balance sheet a solid boost before the IPO launch.
With flexible workspaces in demand post-pandemic, WeWork India will soon join listed peers like Awfis and Indiqube on the stock market.