WeWork India IPO: Check IPO Date, Live Subscription and Key Details
WeWork India Management Ltd. is India’s leading premium flexible workspace provider, holding the exclusive license for the global WeWork brand. The company specializes in providing modern, high-quality, fully serviced workspaces across major Tier 1 cities, with approximately 94% of its portfolio in Grade A buildings. As of September 30, 2024, it operates 59 centers with 94,440 desks across 6.48 million sq. ft. Enterprise clients (large enterprises, MNCs, and GCCs) form a significant portion of its membership base, contributing to revenue stability. The company successfully turned profitable in FY25 after previously reporting losses.
Price Range
₹615.0 - ₹648.0
Issue Size
₹3,000 Crore
Lot Size
23 shares
IPO Type
Mainboard
GMP
-
Est. Listing Price
₹648
Invisible
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Invisible
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Key Metrics
Check Live GMP
Face Value
₹10
EPS
9.56
P/E Ratio
67.75
RoNW
63.8%
ROE
64.19%
Debt to Equity
1.55
Timeline
IPO Opens
3 Oct
IPO Closes
7 Oct
Allotment
8 Oct
Listing
10 Oct
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 3 October 2025 | Subscription starts |
| IPO Close Date | 7 October 2025 | Subscription ends |
| Allotment Date | 8 October 2025 | Allotment |
| Listing Date | 10 October 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Retail (Min) | 1 | ₹14,904 |
Retail (Max)Just less than ₹2,00,000 | 13 | ₹1,93,752 |
SHNI (Min)Just above ₹2,00,000 | 14 | ₹2,08,656 |
SHNI (Max)Below ₹10,00,000 | 67 | ₹9,98,568 |
BHNIAbove ₹10,00,000 | 68 | ₹10,13,472 |
IPO Objectives
- The IPO is entirely an Offer for Sale, and the company will not receive any proceeds. The primary objective is to provide liquidity to the Selling Shareholders and achieve the benefits of listing on the stock exchanges.
Strengths
- The company is the largest premium flexible workspace operator by revenue, with a category-defining and aspirational brand.
- It benefits from strong brand recognition backed by the Embassy Group and the exclusive global WeWork brand license.
- The business achieved a significant financial turnaround to profitability in FY25 (PAT of ₹128.19 Cr), demonstrating operational maturity.
- It has a consistently growing and 'sticky' member base, with enterprise clients contributing a large share of revenue (around 60%).
- The company's high Revenue to Rent Multiple (2.68 in FY25) reflects a premium pricing strategy and high operational efficiency.
Weaknesses
- The IPO is a Pure Offer for Sale (OFS), meaning the company will not receive any fresh capital for direct business growth or expansion.
- The high fixed-cost business model from long-term leases versus shorter membership tenures creates a significant asset-liability mismatch risk.
- The FY25 profitability was fragile, as it was heavily reliant on a one-time deferred tax gain, suggesting core operating income is not yet robust.
- The P/E ratio of 67.67 is considered aggressive by some analysts compared to listed peers, which may limit short-term listing gains.
- Revenues are heavily concentrated in Bengaluru and Mumbai, exposing the business to regional economic downturns and market risks.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 5,391.67 | 4,482.76 | 4,414.02 |
| Revenue (₹ Cr.) | 2,024 | 1,737.16 | 1,422.77 |
| PAT (₹ Cr.) | 128.19 | -135.77 | -146.81 |
| Net Worth (₹ Cr.) | 199.7 | -437.45 | -292.11 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| WeWork India Management | 41.62 | 67.75 | 64.19% | 199.7 |
| Awfis Space Solutions | 9.18 | 56.21 | 9.38% | 459.71 |
| Smartworks Coworking | 11.67 | -102.68 | -58.56% | 108.55 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.02x | 0.09x | 1.79x |
| NII | 0.02x | 0.06x | 0.23x |
| S-HNI | 0.04x | 0.09x | 0.21x |
| B-HNI | 0x | 0.05x | 0.23x |
| RII | 0.15x | 0.38x | 0.62x |
| EMP | 0.9x | 1.44x | 1.87x |
| Total | 0.04x | 0.14x | 1.15x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 1,38,71,031 | 2,47,66,584 | 1,604.87 |
| NII | 69,35,516 | 15,68,117 | 101.61 |
| Small NII | 23,11,839 | 4,91,671 | 31.86 |
| Big NII | 46,23,677 | 10,76,446 | 69.75 |
| RII | 46,23,677 | 28,75,161 | 186.31 |
| EMP | 59,524 | 1,11,481 | 7.22 |
| Total | 2,54,89,748 | 2,93,21,343 | 1,900.02 |
Company Details
- WeWork India Management Ltd.
- 6th Floor, Prestige Central, 36, Infantry Road, Shivaji Nagar, Bengaluru, Karnataka-560001
- +91 8884564500
- cswwi@wework.co.in
- https://wework.co.in/
Registrar Details
- MUFG Intime India Pvt.Ltd. (Link Intime)
- +91-22-4918 6270
- weworkindia.ipo@linkintime.co.in
- https://linkintime.co.in/Initial_Offer/public-issues.html