WeWork India IPO will open for subscription on October 3, 2025, and close on October 7, 2025. Incorporated in 2016, WeWork India Management Limited is a leading premium flexible workspace operator in India. The organisation offers a broad spectrum of workspace solutions designed to meet the needs of modern businesses.
Its portfolio includes custom-designed buildings, dedicated floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions that support distributed teams.
Through its scale, variety of workspace formats, and hybrid offerings, WeWork India has positioned itself as a strong player in the managed workspace ecosystem, appealing to both established corporations and growing ventures seeking flexibility and quality.
WeWork India IPO Date
The key pointers for the WeWork India IPO dates are:
- Bidding Opening Date: October 3, 2025
- Bidding Closing Date: October 7, 2025
- Allotment Date: October 8, 2025
- Initiation of Refunds (in case of less or no allotment): October 9, 2025
- Shares Credited to Your Demat Account: October 9, 2025
- IPO Listing Date: October 10, 2025
- Listing on Exchange: BSE and NSE
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WeWork India IPO Issue Size
WeWork India IPO valuation, as denoted by the market capitalisation, stood at ₹8,684.71 crores. Here are the essential details:
- WeWork India IPO Price Band: ₹615 to ₹648 per share
- Lot Size: 23 Shares
- Total Issue Size and Amount: 4.63 crore shares (aggregating up to ₹3,000 crores)
- Offer for Sale and Amount: 4.63 crore shares (aggregating up to ₹3,000 crores)
WeWork India IPO Proceeds Usage
The net proceeds from the WeWork India IPO are proposed to be utilised for the following purposes:
The company will not directly benefit from the offer proceeds. The entire amount raised will be received by the Selling Shareholder, after deducting Offer-related expenses and applicable taxes, which the Selling Shareholder will bear.
WeWork India IPO Reservations
WeWork India IPO reservations to different investors are:
- For QIBs: Not less than 75% of the Net Issue
- For NIIs: Not more than 15% of the Net Issue
- For Retail Investors: Not more than 10% of the Net Issue
WeWork India IPO Lot Size
WeWork India IPO lot size is 23 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 23 | ₹14,904 |
| S-HNI (Min) | 14 | 322 | ₹2,08,656 |
| B-HNI (Min) | 68 | 1,564 | ₹10,13,472 |
WeWork India IPO Details: Promoter Holding
The company’s promoters are Jitendra Mohandas Virwani, Karan Virwani, and Embassy Buildcon LLP.
Embassy Buildcon LLP and 1 Ariel Way Tenant Limited are the selling shareholders in this IPO.
WeWork India Management Limited: Company Overview
Incorporated in 2016, WeWork India Management Limited operates as one of the leading flexible workspace providers in the country.
The company offers a wide range of solutions, including custom-designed buildings, dedicated floors and offices, enterprise office suites, managed offices, private offices, co-working spaces, and hybrid digital offerings. Its workspaces are designed to deliver flexibility and quality, catering to the needs of large enterprises, small businesses, startups, and professionals.
As of June 30, 2025, WeWork India managed 68 operational centres with a total desk capacity of 1,14,077 spread across eight major Indian cities, with Bengaluru and Mumbai accounting for a significant share of its net membership fees during the reported periods.
The company’s diverse client base includes notable 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.
As of the same date, the company employed 583 people, supporting its operations and service delivery across its centres.
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WeWork India Management Limited: Financial Performance
WeWork India Management Limited’s key financials and operating metrics for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Total Income | 2,024.00 | 1,737.16 | 17% |
| Net Profit | 128.19 | -135.77 | 194% |
| EBITDA | 1,235.95 | 1,043.79 | 18% |
| Total Assets | 5,391.67 | 4,482.76 | 20% |
| ROCE | 37.52% | 54.05% | -16.53% |
| Occupancy Rate in Operational Centres | 76.79% | 82.04% | -5.25% |
| Renewal Rate | 74.66% | 75.97% | -1.31% |
- Revenue Growth: WeWork India’s total income grew 17% to ₹2,024.00 crore in FY25, up from ₹1,737.16 crore last year, driven by steady demand for flexible workspaces across major cities.
- Profitability: After a challenging FY24, the company bounced back to profitability with a net profit of ₹128.19 crore in FY25, compared to a loss of ₹135.77 crore the previous year. This turnaround reflects better cost management and stronger business performance.
- EBITDA Performance: EBITDA rose 18% year-on-year, reaching ₹1,235.95 crore in FY25 from ₹1,043.79 crore in FY24. This shows improved operational efficiency and more effective use of our workspaces.
- Asset Base: Total assets expanded 20% to ₹5,391.67 crore, up from ₹4,482.76 crore last year, highlighting continued investment in our centres and infrastructure to support growth.
- Return on Capital Employed (ROCE): ROCE came in at 37.52%, down from 54.05% last year, reflecting higher capital investment even as earnings strengthened.
- Occupancy Rate: Occupancy at operational centres slightly dipped to 76.79% from 82.04%, showing room to optimize utilisation amid new additions.
- Renewal Rate: Renewals remained strong at 74.66%, nearly steady from 75.97% last year, demonstrating continued customer loyalty in a competitive market.
WeWork India IPO: Peer Comparison
Here’s the peer comparison table for WeWork India Management Limited with its listed peers:
| Company Name (FY25) | EPS (Basic ₹) | P/E (x) | RoNW (%) | Total Leasable Area (million sq. feet) |
|---|---|---|---|---|
| WeWork India Management | 9.93 | 67.75 | 63.80 | 7.83 |
| Awfis Space Solutions | 9.75 | 59.38 | 14.78 | 7.80 |
| Smartworks Coworking Spaces | -6.18 | – | -58.76 | 8.99 |
- EPS: WeWork India posted a solid ₹9.93 per share in FY25, slightly ahead of Awfis at ₹9.75, while Smartworks reported a loss of ₹6.18 per share.
- P/E Ratio: At 67.75x, WeWork India’s P/E is a bit higher than Awfis (59.38x), reflecting a higher valuation.
- Return on Net Worth (RoNW): WeWork India delivered an impressive 63.8%, showing effective use of capital.
- Total Leasable Area: With 7.83 million sq. ft., WeWork India has a slightly larger footprint than Awfis (7.80 million sq. ft.) but is smaller than Smartworks (8.99 million sq. ft.), demonstrating a strong presence across key cities.
WHY SMC
- 20 Lac+ unique clients
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WeWork India IPO Risk Factors
WeWork India IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- No Proceeds from IPO: Funds from the Offer for Sale will not flow to the company, which could limit resources for expansion or other business needs.
- Historical Losses and Cash Flow Challenges: The company reported net losses in the first quarter of FY25, along with negative earnings per share and a decrease in cash reserves. Maintaining profitability will require sustained revenue growth and careful cost management.
- Credit Rating Risk: Any downgrade in credit rating may make it more difficult to raise capital in the future and increase borrowing costs.
- Concentration of Revenue: In FY25, around 70% of net membership fees were derived from centres in Bengaluru and Mumbai. Any disruptions in these cities or centres could materially affect business performance.
- Lease Obligations: As of June 30, 2025, long-term fixed leases cover 7.35 million sq. ft. across 60 operational centres in eight cities. Failure to meet lease payments, renewals, or damage to centres could hurt operations and profitability.
- Brand and International Exposure: Disruptions at the global WeWork level or events impacting the WeWork brand could harm reputation, customer confidence, and overall financial performance.
- Competitive Market: The flexible workspace industry in India is witnessing intensified competition, with several players pursuing rapid expansion. This aggressive environment could exert pressure on pricing, margins, and market share for WeWork India.
- Regulatory Proceedings: Legal proceedings initiated against the Promoter and Chairman under the Prevention of Money Laundering Act could impact the company’s reputation and financial performance if the outcome is unfavorable.
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Frequently Asked Questions – FAQs
1. When will the WeWork India IPO open and close?
WeWork India IPO will open on October 3, 2025 (Friday), and close on October 7, 2025 (Tuesday).
2. What is the price band and lot size for the IPO?
The IPO price band is set at ₹615 to ₹648 per share, with a lot size of 23 shares.
3. How much is the total issue size of the WeWork India IPO?
The IPO comprises 4.63 equity shares, aggregating up to ₹3,000 crores, and it is a complete offer for sale issue.
4. Who will receive the proceeds from the IPO?
The company will not directly benefit from the proceeds. The selling shareholders will receive the entire amount after deducting offer-related expenses and applicable taxes.
5. On which exchanges will the WeWork India IPO be listed?
The shares of WeWork India will be listed on both the BSE and NSE, with a listing date of October 10, 2025.
Reference:
https://wework.co.in/investors-relations/Red%20Herring%20Prospectus.pdf
Author: All Content is verified by SMC Global Securities.
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