WeWork India IPO: Price, Analysis, Allotment, And GMP

WeWork India IPO - Company Analysis

WeWork India IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 3,000 Cr by WeWork India Management Ltd., which is one of the largest flexible workspace providers in India. The company also offers customised enterprise solutions. 

WeWork India is recognised for their co-working and flexible private offices in major cities. As of June 2025, WeWork India had:

• 65 centres that had 7.93 million sq. ft. of total space.

• ~120,000 seats to accommodate clients. 

• Relations with 8 Indian cities and Singapore. 

The company is recognised for meeting the 8 cities in India and Singapore, and the demand for hybrid workspaces. It also meets the demand of India’s growing startups and enterprises.

WeWork India IPO Details

The WeWork India Management Ltd IPO open date is from Oct 03 to Oct 07, with IPO allotment on Oct 08, refund initiation on Oct 09, 2025.

The Rs. 3,000 Cr mainline IPO comprises a wholly offer for sale (OFS) of 4.63 crore shares.

The WeWork India IPO listing date might be on Friday, 10 October 2025, and it will be listed at the BSE and NSE. The WeWork India IPO price band is Rs. 615 to Rs. 648 for each Share. 

Events	Date
IPO Opening Date	October 03, 2025
IPO Closing Date	October 07, 2025
IPO Allotment Date	October 08, 2025 (Tentative)
Refund Initiation	October 09, 2025 (Tentative)
Tentative IPO Listing Date	October 10, 2025

 

Industry Outlook

The Indian office market is projected to grow gradually at a CAGR of 6.7%.

(Source: CBRE, as at Q1 CY2025)

If you want to apply for the IPO, click to open a Demat Account.

Company Financial 

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	5,391.67	4,482.76	4,414.02
Total Income	2,024.00	1,737.16	1,422.77
Profit After Tax	128.19	-135.77	-146.81
EBITDA	1,235.95	1,043.79	795.61
Net Worth	199.70	-437.45	-292.11
Reserves & Surplus	65.68	-634.75	-346.92
Borrowings	310.22	625.83	485.61

 

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	FY25	FY24	FY23
Net Cash Flow Operating Activities	12,899.51	11,618.50	9,418.96
Net Cash Flow Investing Activities	(3,036.77)	(3,934.12)	(3,864.72)
Net Cash Flow Financing Activities	(9,837.77)	(7,973.18)	(5,337.56)

 

Revenue Bifurcation 

(Source - RHP)

The Objective of The Issue

• Since this IPO is a pure OFS, the company will not receive any proceeds. 

Click to check the IPO application status.

 

Listed Peers of WeWork India Management Ltd.

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Awfis Space Solutions	10	9.75	59.38
Smartworks Ltd.	10	(6.18)	NA
IndiQube Ltd.	1	(7.65)	NA

 

Valuation

Metric	Value
RoNW	63.8%
EBITDA	63.4%
PB Value	41.62

 

Evaluation of P/E Ratio

The company's IPO price of Rs. 648 corresponds to a P/E multiple of 65.25x based on FY25 EPS of Rs. 9.93.

Explore the Glottis IPO.

IPO's Strengths

• Market leader in India’s flexible workspace industry.

• possession of Grade A properties in prestigious micromarkets and solid connections with leading developers.

• A wide variety of goods and services are offered by this company.

• Backing of Embassy Group (promoter) ensures real-estate synergies.

 

 

IPO Weaknesses

• Pure OFS: No fresh capital inflow.

• Heavy reliance on commercial real estate cycles.

• Business is sensitive to occupancy rates and rent escalations.
  
  

WeWork India IPO GMP 

WeWork India IPO GMP today is Rs. 0 as of 29 Sep 2025, while writing this information. 

 

WeWork India Limited IPO Summary 

IPO Opening & Closing Date	Oct 03, 2025 to Oct 07, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 615 to Rs. 648
Lot Size	23 Shares
Issue Size	4,62,96,296 Shares (Rs. 3,000 Cr)
Offer for Sale	4,62,96,296 Shares (Rs. 3,000 Cr)
Fresh Issue	-
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	MUFG Intime India Pvt. Ltd.

 

 

WeWork India IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (23 Shares) amounting to Rs. 14904 and 13 Lots (299 Shares) amounting to Rs. 1,93,752, respectively, while for S-HNI investors, the minimum Lot is 14 (322 Shares) amounting to Rs. 2,08,656.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	67 Lots
BHNI (Minimum)	68 Lots

WeWork India IPO Reservation

Institutional Share Portion	75%
Retail Investors' Share Portion	10%
Non-Institutional Shares Portion	15%

 

WeWork India IPO Allotment Status

To check the WeWork India IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

 

Promoters And Management of WeWork India Management Ltd.

• Jitendra Mohandas Virwani

• Karan Virwan

• Embassy Buildcon LLP

Pre-Issue Promoter Shareholding	73.56%
Post-Issue Promoter Shareholding	-

 

WeWork India IPO Lead Managers

• JM Financial Ltd. 

• ICICI Securities Ltd. 

• Jefferies India Pvt. Ltd. 

• Kotak Mahindra Capital Company Ltd. 

• 360 ONE WAM Ltd.

 

 

Dividend Policy

The company has not paid a dividend in the past three fiscal years.

Conclusion

The WeWork India IPO offers investors the opportunity to capitalise on India’s rapidly growing flexible workspace industry. With a profitable turnaround, robust financials for FY25, and Embassy Group’s support, the company has improved fundamentally. However, it is a pure OFS, and investors should assess risks, including sector cyclicality, competition, and global macro factors.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.