The initial public offering (IPO) of WeWork India Management, which opened for bidding today, October 3, received a tepid response from investors, with the issue subscribed at just 4% on Day 1. The retail portion was booked at 15%, while Non-Institutional Buyers (NIIs) and Qualified Institutional Buyers (QIBs) were each subscribed at only 2%. In contrast, the employee quota saw strong demand, with 90% subscription.
The company aims to raise ₹3,000 crore from the issue, which is entirely an offer for sale of 4.63 crore shares, with the price band fixed at ₹615–648 per share.
Retail investors can apply for a minimum of 23 shares in one lot and up to 13 lots. At the upper end of the IPO price band, ₹648 per share, retail investors are required to make a minimum investment of ₹14,904 per lot.
The company will not receive any proceeds from the offer. All offer proceeds shall be received by the selling shareholder, subsequent to the deduction of offer-related expenses and applicable taxes, which shall be the responsibility of the selling shareholders.
The allotment is likely to be finalized on Wednesday, October 8, and the shares are scheduled to list on both NSE and BSE on Friday, October 10. JM Financial Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
About WeWork India
The company is one of the leading premium flexible workspace operators in India. Its business model focuses on leasing buildings from landlords, completing fit-outs, and transforming these spaces into fully managed, modern, tech-enabled, and productive offices for its members.
It provides workspaces to companies of all sizes, including large enterprises, small and mid-size businesses, and startups, as well as individuals.
In its RHP report, citing a CBRE report, the company stated that it has established multi-asset relationships with various prominent developers across major Tier-1 cities. It is majority-owned and promoted by Embassy Group, one of India’s leading real estate developers.
As of June 30, 2025, the company’s portfolio comprised 114,077 desks across 68 operational centres, with an aggregate leasable area of 7.67 million square feet for operational centres.
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