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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
The money raised through the Offer for Sale goes to existing investors, not the company.
(₹ in Crore)
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WeWork India Management Limited runs a network of flexible and managed workspaces across the country. Its offerings span custom built floors and offices, enterprise office suites, managed offices tailored to a client's needs, private offices, shared co-working desks, and digital and hybrid access products. The company serves a broad base of customers that ranges from large enterprises to small and mid sized firms, startups, and individual professionals. The business was incorporated in 2016 and operates the WeWork brand in India under a licensing arrangement. It is majority owned and promoted by the Bengaluru based Embassy Group through Embassy Buildcon LLP, with WeWork's international arm as the other large shareholder. As of 30 June 2025 the portfolio covered 68 operational centres holding about 114,077 desks and roughly 7.67 million square feet of leasable area, with the large majority of that space in Grade A buildings concentrated in Tier 1 cities such as Bengaluru, Mumbai, and Delhi. The company converted from a private limited company to a public limited company in November 2024 ahead of the offering. WeWork India positions itself as one of the larger premium flexible workspace operators in the market and has reported the highest revenue among its peer set over recent financial years. Its revenue base is spread across many clients, with no single customer contributing more than a tenth of income. Financial performance has been uneven, with losses in FY23 and FY24 before a reported net profit in FY25, while occupancy across its centres has softened over the same period. Borrowings were reduced meaningfully between FY24 and FY25.
The company raised about 1,348 crore rupees from anchor investors on 1 October 2025, allotting roughly 2.08 crore shares at 648 rupees each to 67 funds. Participants included domestic mutual funds such as ICICI Prudential, HDFC, Motilal Oswal, Aditya Birla Sun Life and Axis, insurers including SBI General and Kotak Life, and global investors such as Goldman Sachs, Allianz Global Investors and the Abu Dhabi Investment Authority.
Source: RHP • Analysis provided for informational purposes
Last Updated: 12 July 2026, 5:30 AM
Market leadership in flexible workspace
The company reports the highest revenue among Indian flexible workspace operators over the last three financial years and runs a premium, well recognized brand.
Diversified client base
No single customer accounts for more than ten percent of revenue, which limits the earnings impact if any one large client exits.
Prime Grade A locations
Most of the portfolio sits in Grade A properties across major Tier 1 cities, supporting premium pricing and steady demand.
Lower debt burden
Borrowings fell from about 626 crore in FY24 to about 310 crore in FY25, easing the interest cost.
No fresh capital to the company
The issue is a pure offer for sale, so the company receives none of the proceeds and raises no funds for expansion or debt reduction.
Declining occupancy
Occupancy slipped from about 84 percent in FY23 to roughly 77 percent by June 2025, and lower utilization pressures margins.
Volatile profitability
The company reported losses in FY23 and FY24 and a further loss in the first quarter of FY26, with the FY25 profit standing out against that record.
WeWork India Management Limited
6th Floor, Prestige Central, 36 Infantry Road, Shivaji Nagar, Bengaluru, Karnataka 560001
View on Maps →MUFG Intime India Private Limited
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Promoter legal proceedings
Enforcement Directorate proceedings under the anti money laundering law involving the promoter and chairman create a governance and reputational overhang.
Rich valuation
The offer is priced at a high earnings multiple relative to the company's recent financial track record.