Co-working major WeWork India is preparing for its Initial Public Offering (IPO) this week, targeting to raise ₹3,000 crore, even as it reported a reduced loss of ₹14.14 crore in the first quarter of the current fiscal year (April-June 2025-26). This financial performance, detailed in its latest Red Herring Prospectus (RHP) filed with SEBI, shows a significant improvement compared to the ₹29.17 crore loss recorded in the corresponding period of the previous year.

During the April-June quarter of this fiscal, WeWork India's revenue from operations surged by 19 percent, reaching ₹535.31 crore, up from ₹448.65 crore in the same period last year. For the entire fiscal year 2024-25, the company had posted a profit of ₹128.18 crore on a turnover of ₹1,949.21 crore, underscoring a strong trajectory in its financial growth amidst robust office demand.

The company announced a price band of ₹615-648 per share for its upcoming IPO. At the upper end of this band, WeWork India is valued at approximately ₹8,685 crore. The public subscription for the IPO is scheduled to open on October 3 and will close on October 7. The issue is structured entirely as an Offer For Sale (OFS), comprising up to 4.63 crore equity shares. Consequently, the proceeds from the IPO will go directly to the selling shareholders, namely the promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global), with WeWork India itself not receiving any funds.

WeWork India, founded in 2017, operates under an exclusive license of the WeWork brand. The ownership structure currently sees Bengaluru-based real estate firm Embassy Group holding approximately 76.21 percent in WeWork India, while WeWork Global owns 23.45 percent. The company has previously secured significant investments, including USD 100 million from WeWork Global in 2021, and raised ₹500 crore through a rights issue in January 2024 to reduce debt and support its expansion initiatives.

The primary objective of the offer, as stated in its draft papers, is to leverage the benefits of listing its equity shares on the stock exchanges. This move is expected to enhance visibility for the company, provide increased liquidity for existing shareholders, and establish a public market for its stock in the Indian financial landscape. Currently, WeWork India maintains a significant operational footprint across major Tier-1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. The company manages a total of 77 lakh sq ft of space, with 70 lakh sq ft already operational, offering a substantial desk capacity of 1.03 lakh.