WeWork India Management Ltd, the co-working space operator promoted by Embassy Group, made its market debut on Friday, listing at ₹632 per share.
This is slightly below the upper end of its IPO price band of ₹615–₹648, valuing the company at around ₹8,685 crore.
The stock opened flat, dropping ₹16 (2.47%) compared to the issue’s upper price band, reflecting a cautious start for India’s largest flexible workspace provider.
Investor Response to the IPO
WeWork India had raised a total of ₹3,000 crore through its IPO, which received moderate investor interest, being subscribed 1.15 times by the end of bidding.
Qualified Institutional Buyers (QIBs) subscribed 1.79 times, showing strong institutional support.
Retail investors were lukewarm, with only 61% subscription.
Non-institutional investors subscribed just 23% of their quota.
The IPO was entirely an Offer for Sale (OFS), meaning the company itself did not raise fresh funds.
Instead, the listing provides liquidity to existing shareholders, including Embassy Buildcon LLP and Ariel Way Tenant Ltd from WeWork Global.
About WeWork India
Founded in 2017, WeWork India holds the exclusive licence for the global WeWork brand in India.
The company operates across Tier-1 cities like Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai, managing 77 lakh sq. ft of workspace. Of this, 70 lakh sq. ft is operational, supporting over 1.03 lakh desks.
The company employs more than 500 people and has grown rapidly in the last seven years, becoming a key player in India’s flexible workspace sector.
What Experts Suggest for Investors
Market expert Anil Singhvi noted that the IPO was suitable only for risk-taking investors, as it received a weak response.
The listing price was expected to be near or slightly below the IPO price of ₹648, which aligned with actual performance.
Singhvi suggested:
Short-term investors: Keep a stop loss below the IPO price.
Long-term risk-takers: Can consider holding the stock for potential growth.
WeWork India’s debut highlights the growing interest in co-working spaces while showing that retail investors remain cautious about new listings in this sector.
