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The company’s IPO comprises an offer for sale (OFS) of equity shares of up to 4.37 crore equity shares.
The OFS comprises up to 3.34 crore equity shares by Embassy Buildcon LLP (Promoter Selling Shareholder), and up to 1.02 crore equity shares by 1 Ariel Way Tenant Limited (Investor Selling Shareholder).
The company will not receive any proceeds from the offer for sale.
WeWork India is majority-owned by Embassy Group, which has developed over 85 million square feet of commercial real estate and sponsors Embassy REIT—India’s first REIT and Asia’s largest office REIT by leasable area, according to CBRE. WeWork India is one of the few flexible workspace operators in India backed by a major real estate developer.
Embassy Buildcon LLP holds 76.21% stake in the company, and the remainder shares are owned by public shareholders including 23.45% shares of UK-based 1 Ariel Way Tenant.
JM Financial Ltd, ICICI Securities Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd, and 360 ONE WAM Ltd are the Book Running Lead Managers to the issue.
The company provides flexible, high-quality workspaces to a diverse range of customers, including large enterprises, small and mid-size businesses, startups, and individuals. Its member base includes a marquee roster of Fortune 500 companies, international and domestic corporations, large enterprises, GCCs, MSMEs, and startups.
As on June 30, 2024, Grade A properties accounted for approximately 93% of our portfolio. (source: CBRE).
On the earnings front, the company reported a loss of Rs 135.8 crore in the fiscal 2024, narrowing from loss of Rs 146.8 crore in previous fiscal. During the same period, however, revenue surged by 26.7 percent to Rs 1,665.1 core, against Rs 1,314.5 crore.
Profit in six months period ended September 2024 stood at Rs 174.6 crore on revenue of Rs 918.2 crore.
First Published: Feb 2, 2025 2:49 PM IST
