WeWork India Management Limited, a leading flexible workspace provider, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), signaling its intent to go public. The company, which operates premium coworking spaces across India, has been the largest flexible workspace operator by total revenue for the past three fiscal years, according to CBRE.
The initial public offering (IPO) will be an Offer for Sale (OFS) of up to 43,753,952 equity shares. The sale will include up to 33,458,659 equity shares offered by Embassy Buildcon LLP, the promoter selling shareholder, and up to 10,295,293 equity shares by 1 Ariel Way Tenant Limited, the investor selling shareholder. WeWork India itself will not receive any proceeds from the offer.
JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and 360 ONE WAM Limited are acting as the Book Running Lead Managers for the issue.
WeWork India provides flexible, high-quality workspaces to a broad spectrum of clients, including Fortune 500 companies, multinational corporations, startups, and small and medium-sized enterprises (SMEs). Its client portfolio includes major global firms such as Amazon Web Services, JP Morgan, Warner Bros. Discovery, Deutsche Telekom, and Grant Thornton.
The company operates under an exclusive license for the WeWork brand in India. With this IPO, WeWork India aims to strengthen its position in the country’s growing flexible workspace market, which has witnessed increased demand from enterprises seeking agile and cost-effective office solutions.
For more details, the DRHP can be accessed here.
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