WeWork India has officially opened its ₹3,000 crore IPO for subscription today, October 3, 2025.
The offer will remain open until October 7, 2025, making it one of the most awaited listings in the flexible workspace sector.
Unlike other IPOs, this issue is a complete offer for sale (OFS) of 4.63 crore shares, meaning the company itself will not receive funds from the proceeds.
Business Model and Market Competition
WeWork India works on an asset-light leasing model rather than owning properties.
As of June 30, 2025, it operated 7.35 million sq. ft. across 60+ centres, under long-term fixed-cost agreements.
While this helps scale up quickly, it also creates large fixed expenses. If occupancy levels fall or lease renewals fail, profits could come under pressure.
The company currently competes with nearly 500 flexible workspace players in India, with Awfis Space Solutions being the only other listed peer.
Key Risks to Watch
Promoter Share Pledge: Some promoter shares are pledged against borrowings.
If repayment defaults occur, lenders could sell these shares, reducing promoter holding and creating market volatility.
Regulatory Concerns: A group company, Embassy Office Parks Management Services, has received a SEBI show-cause notice.
Though WeWork India isn’t directly involved, such developments may impact investor sentiment.
Legal Proceedings: Promoter Jitendra Mohandas Virwani has been under investigation by the Enforcement Directorate since 2014.
Any adverse ruling could affect the company’s image and future financing.
Operational Risks: Disputes, damages, or sudden drops in occupancy can hurt revenues given the heavy fixed-lease commitments.
IPO Details at a Glance
Issue Size: ₹3,000 crore (entirely OFS)
Price Band: ₹615–₹648 per share
Lot Size: 23 shares per bid
Promoter Offloading: Embassy Buildcon LLP (3.54 crore shares), WeWork International (1.089 crore shares)
Stakeholding Pre-IPO: Embassy Buildcon (73.56%), WeWork International (22.64%)
Lead Managers: JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, 360 ONE WAM
Registrar: MUFG Intime India
Listing Timeline
IPO Open: October 3, 2025
IPO Close: October 7, 2025
Share Allotment: Likely on October 8, 2025
Listing Date: Expected October 10, 2025 on BSE and NSE
If successful, WeWork India will join Awfis Space Solutions as one of the few publicly traded companies in India’s fast-growing co-working industry.
