WeWork India Management Limited is launching its Initial Public Offering (IPO) to raise funds through a book-built offer. The IPO comprises a pure offer for the sale of 4.63 crore equity shares aggregating up to Rs. 3,000 crore. There is no fresh issue component in this IPO.
The IPO opens for subscription on October 3, 2025, and closes on October 7, 2025. The shares will be listed on NSE and BSE on Friday, October 10, 2025. Here’s everything you need to know.
GMP of WeWork India Management Limited IPO
As of September 30, 2025, WeWork India Management Limited currently has no grey market premium (GMP). If it becomes available, we will update this paragraph.
Overview of WeWork India Management Limited
WeWork India Management Limited was founded in 2016 and is a leading provider of flexible workspace solutions in India. The company offers customized buildings, enterprise suites, managed offices, coworking spaces, and hybrid digital solutions, catering to enterprises, startups, and professionals. Its goal is to provide high-quality, adaptable work environments that enhance productivity and collaboration.
As of June 30, 2025, WeWork India operated 68 centers with over 114,077 desks across eight cities. Bengaluru and Mumbai contributed a major share of revenues, reflecting their importance as business hubs.
The company’s clients include Amazon Web Services, JP Morgan Services India, Discovery Communications, Deutsche Telekom Digital Labs, CBA Services, and Grant Thornton Bharat . Supported by robust infrastructure and 583 employees, WeWork India continues to scale its presence nationwide.
Promoters of WeWork India Management Limited
WeWork India Management Limited’s promoters include Jitendra Mohandas Virwani, Karan Virwani, and Embassy Buildcon LLP. They bring deep expertise in the real estate development and workspace management sectors.
Selling Shareholders of WeWork India Management Limited
The entire IPO is an offer for sale (OFS) of equity shares by Embassy Buildcon LLP and 1 Ariel Way Tenant Limited. Embassy Buildcon LLP (Promoter Selling Shareholder) is offloading up to 3.54 crore shares, while 1 Ariel Way Tenant Limited (Investor Selling Shareholder) is selling up to 1.09 crore shares. No fresh issue of equity shares is involved in this offer.
Lead Managers of WeWork India Management Limited IPO
The book-running lead managers are JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital, and 360 ONE WAM Limited. MUFG Intime India Private Limited acts as the registrar for the offer.
Objectives of the Offer
The IPO proceeds will go directly to the selling shareholder, the Embassy Buildcon LLP, and 1 Ariel Way Tenant Limited. The company will not receive any funds from the offer.
Financial Analysis of WeWork India Management Limited
WeWork India Management Limited’s revenue has increased from Rs. 1,665.14 crore in FY24 to Rs. 1,949.21 crore in FY25, which has grown by 17.06 percent. The net profit of the company has turned from negative to positive, from a net loss of Rs. 135.77 crore in FY24 to a net profit of Rs. 128.19 crore in FY25.
WeWork India Management Limited’s revenue has grown at a CAGR of 21.77 percent over the last two years. The company has reported a revenue of Rs. 535.31 crore and a net loss of Rs. 14.15 crore in the June Quarter 2025. WeWork India Management Limited has an earnings per share (EPS) of Rs. 9.93.
WeWork India Management Limited Vs Peers
WeWork India Management reported revenue of Rs. 1,949.21 crore in FY2025 with an EPS of Rs. 9.93 and RoNW of 63.80 percent. In comparison, Awfis Space Solutions Limited earned Rs. 1,207.54 crore with an EPS of Rs. 9.75 and a RoNW of 14.78 percent. Smartworks Coworking Spaces Limited reported Rs. 1,374.06 crore in revenue, Rs. -6.18 EPS, and a RoNW of -58.76 percent.
The company’s net asset value per share is Rs. 15.57, compared to Rs. 64.71 for Awfis Space Solutions Limited, Rs. 10.55 for Smartworks Coworking Spaces Limited, and Rs. -0.24 for IndiQube Spaces Limited.
Strengths of WeWork India Management Limited
- Strong brand association with the global coworking leader enhances trust and recognition in India.
- Wide presence across major Indian business hubs attracts multinational and enterprise clients.
- Backing from Embassy Group strengthens access to premium real estate and infrastructure.
- Diverse client portfolio spans startups, corporates, and unicorns, reducing segment dependence.
- Continuous innovation in workspace design supports adaptability to new work trends.
Weaknesses of WeWork India Management Limited
- High dependency on leasing large spaces increases fixed costs and financial risk.
- Past financial losses raise concerns over a consistent long-term profitability outlook.
- Exposure to economic downturns impacts demand for flexible office space significantly.
- Intense competition from Indian and global coworking brands pressures pricing strategies.
- No fresh issue in IPO limits capital infusion for the company’s expansion and debt reduction.
Conclusion
WeWork India Management Limited’s IPO provides investors with exposure to India’s fast-evolving coworking and flexible workspace sector. While the offer focuses on shareholder exit, the listing may improve transparency and brand positioning. Investors should carefully weigh financial performance, sector competition, and growth strategies before applying.
Written By – Nikhil Naik
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