#WeWorkIndiaIPO #IPOAlert #StockMarket #OfferForSale #EmbassyGroup #CoworkingSpace #NSE #BSE #OctoberIPO #IndianStockMarket
Mumbai – Co-working space giant WeWork India is set to launch its Initial Public Offering (IPO) on October 3, with the issue size expected to be approximately ₹3,000 crore. The public offer, which is entirely an Offer for Sale (OFS), will mark a significant listing for the flexible workspace sector in India.
IPO Key Details and Timeline
Issue Structure and Proceeds
The proposed IPO is a pure Offer for Sale (OFS) of up to 4.63 crore equity shares.
- No Fresh Capital: As it is an OFS, WeWork India will not receive any proceeds from the listing. All funds, after deducting offer expenses, will go to the selling shareholders.
- Selling Shareholders: The shares will be offloaded by the promoter group firm Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global).
- Listing Objective: The company states the listing aims to achieve the benefits of public listing, including enhancing visibility, providing liquidity to existing shareholders, and establishing a public market for its stock.
Company Overview and Shareholding
WeWork India, established in 2017, operates under an exclusive license of the ‘WeWork’ brand and is promoted by the Bengaluru-based real estate major, the Embassy Group.
- Current Shareholding:
- Embassy Group: ~76.21%
- WeWork Global: ~23.45%
- Operations Footprint: The company manages 77 lakh sq ft of space with a desk capacity of 1.03 lakh across major Tier 1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai.
- Recent Funding: WeWork Global invested $100 million in 2021. More recently, in January 2024, the company raised ₹500 crore through a rights issue primarily to reduce debt and support growth.
#WeWorkIndiaIPO #IPOAlert #StockMarket #OfferForSale #EmbassyGroup #CoworkingSpace #NSE #BSE #OctoberIPO #IndianStockMarket
