Press Releases

WeWork India Management Limited (“WeWork India”), one of India’s leading premium flexible workspace operators and the largest operator by total revenue in the past three Fiscals (source: CBRE) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

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.

The company’s initial public offering comprises an Offer for Sale (OFS) of equity shares of up to 43,753,952 equity shares.

The offer for sale comprises up to 33,458,659 equity shares by Embassy Buildcon LLP (“Promoter Selling Shareholder”), and up to 10,295,293 equity shares by 1 Ariel Way Tenant Limited (“Investor Selling Shareholder”).

The company will not receive any proceeds from the offer for sale.

JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and 360 ONE WAM Limited are the Book Running Lead Managers to the issue.

WeWork India’s strength of its brand and offerings, combined with its association with the WeWork global network, has enabled it to attract and foster long-term relationships with marquee global brands, including Amazon Web Services, JP Morgan, Warner Bros. Discovery, Deutsche Telekom, and Grant Thornton. The company is the exclusive licensee of the WeWork Brand in India.

About WeWork India Management Limited:
WeWork India, the largest operator by total revenue in the past three Fiscals (source: CBRE) is a category-defining, aspirational brand in India, with a loyal customer base (source: AGR). The company has played a significant role in the growth of the flexible workspace sector in India and been a key contributor for the evolution of flexible workspace products and services (source: CBRE).

WeWork India is majority-owned by Embassy Group, one of India’s leading real estate developers, 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.

The company offers high quality workspaces by designing, building and operating them to global standards. As on June 30, 2024, Grade A properties accounted for approximately 93% of our portfolio. (source: CBRE).

WeWork India’s centres are located in Tier 1 cities in India - Bengaluru, Mumbai, Pune, Hyderabad, Gurgaon, Noida, Delhi, and Chennai. The company benefits from WeWork Global, a pioneer of flexible office space globally with approximately 600 wholly-owned and licensed locations in 35 countries.

As on September 30, 2024, WeWork India’s portfolio comprised 94,440 desks across 59 Operational Centres with an aggregate Leaseable Area for Operational Centres of 6.48 million square feet.