WeWork India has received regulatory approval from the Securities and Exchange Board of India (SEBI) to launch its Initial Public Offering (IPO), marking a significant development in the countryās co-working sector. The Bengaluru-based firm, a joint venture between Embassy Group and WeWork Global, aims to monetise promoter investments through this offering at a time when office space demand is climbing in India’s top urban centres.
The company had filed its Draft Red Herring Prospectus (DRHP) earlier this year in February and secured SEBIās observations on July 8, a necessary step before launching a public issue. According to the DRHP, the IPO will be a pure Offer for Sale (OFS) involving 4.37 crore equity shares. The OFS will see Embassy Buildcon LLP, a part of the promoter group, offload up to 3.34 crore shares, while WeWork Globalās investment arm, 1 Ariel Way Tenant Ltd, will sell up to 1.03 crore shares.
Since it is an OFS, WeWork India itself will not receive any proceeds from the IPO. However, the listing is expected to boost visibility and offer liquidity to existing shareholders. The company stated that going public will help enhance its brand positioning and provide a robust valuation benchmark through market participation.
WeWork India, which began operations in 2017, holds an exclusive license to operate under the WeWork brand in India. Embassy Group owns a majority stake of 76.21%, while WeWork Global holds 23.45%. The companyās business model is based on leasing Grade A commercial properties in Tier 1 cities from major developers and converting them into premium, managed office spaces.
As per financial disclosures, the company registered a net loss of ā¹135.83 crore in FY 2023ā24 against a revenue of ā¹1,737.16 crore. However, it returned to profitability in the first half of FY 2024ā25, reporting a profit of ā¹174.13 crore on a total income of ā¹960.76 crore. The turnaround is attributed to improved occupancy, higher desk utilisation, and increased demand from large enterprises, startups, and remote-working individuals.
WeWork Indiaās total managed portfolio stands at 7.7 million sq. ft., with about 7 million sq. ft. operational and over 1.03 lakh desk capacity already functional. The company is present in eight major Indian cities including Bengaluru, Mumbai, Pune, Hyderabad, Gurugram, Noida, Delhi, and Chennai. Its team strength has crossed 500 employees, reflecting its growing operational scale.
The IPO approval comes at a time when Indiaās flexible workspace sector is experiencing strong investor and occupier interest. Smartworks recently closed its ā¹583 crore IPO, which was oversubscribed 13.45 times, indicating a healthy appetite for co-working space operators. Awfis and EFC (India) Ltd have also already been listed on the stock exchanges.
In addition to its strong brand backing and pan-India presence, WeWork India has received financial support from both its promoters in the past. WeWork Global invested USD 100 million in 2021, and earlier in 2025, the company raised ā¹500 crore via a rights issue to reduce debt and expand its footprint.
As the IPO nears launch, stakeholders across the real estate and investment sectors will be watching closely. The listing is expected to provide a valuation benchmark for similar operators in the segment and reflect investor confidence in India’s maturing co-working ecosystem.
