WeWork India Announces IPO: Price Band Set at Rs 615-648 per Share
WeWork India Management Ltd. has announced its IPO details. The price band is set at Rs 615-648 per share, with the IPO scheduled from October 3-7. The company aims to raise up to Rs 3,000 crore by offering over 4.6 crore equity shares. The IPO is structured as an offer for sale (OFS), with Embassy Buildcon selling 3.5 crore shares and a WeWork Global affiliate selling 1 crore shares. Share allotment is expected on October 8, with listing on BSE and NSE on October 10. WeWork India operates 68 centers across 8 cities, with 1,14,077 desks.
*this image is generated using AI for illustrative purposes only.
WeWork India Management Ltd. is gearing up for its initial public offering (IPO), setting the stage for a significant entry into the Indian stock market. The company has announced key details of its upcoming share sale, including the price band and schedule.
IPO Details
| Parameter | Value |
|---|---|
| Price Band | Rs 615 - Rs 648 per share |
| IPO Schedule | October 3 - October 7 |
| Offer Size | Over 4.6 crore equity shares |
| Total Offer Value | Up to Rs 3,000 crore |
Offer Structure
The IPO is structured as an offer for sale (OFS), meaning the proceeds will not go to the company but to the selling shareholders:
| Shareholder | Shares Sold | Value |
|---|---|---|
| Embassy Buildcon (Promoter) | 3.5 crore | Rs 2,294 crore |
| WeWork Global affiliate | 1 crore | Rs 706 crore |
Key Dates
| Event | Date |
|---|---|
| Share Allotment | October 8 |
| Listing Date | October 10 (on BSE and NSE) |
Investor Information
| Parameter | Value |
|---|---|
| Minimum Bid | 23 shares |
| Lot Size Value | Rs 14,904 per lot |
Company Overview
WeWork India operates in the flexible workspace sector, with a significant presence across India:
- Operational Footprint: 1,14,077 desks across 68 centers in eight cities
- Notable Clients: Amazon Web Services, JP Morgan Services, Deutsche Telekom, and Grant Thornton Bharat
Lead Bankers
The IPO is being managed by a consortium of leading financial institutions:
- JM Financial
- ICICI Securities
- Jefferies India
- Kotak Mahindra Capital
- 360 ONE WAM
This IPO marks a significant milestone for WeWork India, offering investors an opportunity to participate in the growing flexible workspace market in India. As the company prepares to list on the BSE and NSE, market observers will be keenly watching the response to this offer in the context of current market conditions and the evolving work environment post-pandemic.
Investors interested in participating in the IPO should conduct thorough research and consider their financial goals before making any investment decisions.
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