The initial public offering (IPO) of co-working space operator WeWork India Management Ltd saw a 8 per cent subscription so far on the second day of bidding.
According to BSE data, investors placed bids for 20.89 lakh shares against the total issue size of 2.54 crore shares on offer.
At 12.51 pm on October 6, 2025, the retail investor segment was subscribed 30 per cent, while the portions reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) received 2 per cent and 5 per cent subscription, respectively.
IPO details, price band and anchor portion
Ahead of the public issue, WeWork India raised over
The ₹3,000-crore IPO, which opened on Friday, priced in the range of ₹615–648 per share, will close on October 7. At the upper end of the price band, the company’s valuation stands at around ₹8,685 crore.
The issue is entirely an offer for sale (OFS) of up to 4.63 crore equity shares, through which promoter group entity Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) will offload part of their stakes. Currently, Embassy Group holds about 76.21 per cent in WeWork India, while WeWork Global owns 23.45 per cent.
Since the IPO is a pure OFS, WeWork India will not receive any proceeds from the issue, with all funds going to the selling shareholders.
In its draft red herring prospectus, the company said the primary objective of the offer is to achieve the benefits of listing its equity shares on stock exchanges — improving visibility, enhancing liquidity for existing shareholders, and establishing a public market for its stock in India.
Founded in 2017, WeWork India operates under an exclusive licensing agreement with the global WeWork brand and is promoted by Bengaluru-based real estate developer Embassy Group.
Brokerage view
Brokerages are generally showing cautious optimism. Analysts highlighted the company’s strong brand, growing profitability and scale in the flexible workspace sector as positives, along with a tilt toward enterprise clients that supports more stable revenue. However, several firms are raising red flags over the valuation: WeWork India IPO is priced at a high multiple (P/E in the 50-to-70× range for FY25 at the upper price band), which some see as overextended compared to peers.
Key concerns include high fixed costs, exposure to risks of demand volatility, renewal rate pressures, and concentration of revenue sources. Some analysts recommend subscribing long term if one is comfortable with these risks, while others prefer to wait and see how the stock performs after listing.