WeWork India sets price band of Rs 615–648 for Rs 3,000 Cr IPO

Co-working operator WeWork India has set a price band of Rs 615–648 a share for its Rs 3,000-crore initial public offering. At the top end of the range, the listing implies a valuation of about Rs 8,685 crore.

Subscriptions open on October 3 and run through October 7, with anchor bids slated for October 1. The issue is purely an offer for sale of up to 4.63 crore shares, with Embassy Buildcon LLP and 1 Ariel Way Tenant Ltd (an arm of WeWork Global) offloading stock.

Proceeds will go entirely to the selling shareholders; the company will not receive funds from the sale. As of now, Embassy Group owns roughly 76.21% of WeWork India, while WeWork Global holds about 23.45%.

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WeWork Global invested $100 million in the Indian arm in 2021. In January this year, the company raised Rs 500 crore through a rights issue, primarily to pare debt and fund expansion.

The co-working operator manages about 7.7 million square feet of space across eight cities, including Bengaluru, Mumbai, Delhi, and Chennai. Of this, 7 million square feet is operational, with a desk capacity of 1,03,000.

The company’s IPO comes amid a slew of listings from coworking startups in India. Awfis Space Solutions Ltd, which went public in May 2024, raised about Rs 599 crore; it initially saw its stock rally to Rs 950 before consolidating to Rs 550–Rs 560 in August this year.

Smartworks Coworking Spaces Ltd listed in July this year after its IPO was oversubscribed 13.45 times. It opened at Rs 435 on the NSE, roughly 6.9% above its issue price.

Comparatively, IndiQube Spaces Ltd made a weaker debut in July this year, listing at Rs 216, below its issue price, and later slipping to Rs 201.60, although the company reported strong Q1 FY2026 results with a 27% year-on-year revenue growth and a 303% jump in profits.