WeWork India IPO
IPO Price Range: Not Announced Yet
View WeWork India IPO details including price range, minimum investment, lot size, financials, and IPO timeline. Get subscription updates, peer comparison, and key insights to help you make an informed decision.
IPO Status
Upcoming
Listing Exchange
NSE
Objectives of IPO
Strengths and Risks
Strengths
Strong Brand Leadership: WeWork India leads in brand awareness, consistently recording the highest search volumes for "coworking" and "office space" from October 2023 to September 2024, surpassing competitors by 3.5 to 4 times.
Market Leadership: As the largest premium flexible workspace operator in India by revenue, WeWork India's total income grew by 70.05% from ₹836.67 crore in FY22 to ₹1,422.77 crore in FY23, and by 22.10% to ₹1,737.16 crore in the financial year 2024.
Backed by Embassy Group: Majority-owned by Embassy Group, a leading real estate developer with over 85 million sq. ft. of commercial real estate, WeWork India benefits from access to premium properties, a strong tenant network, and execution capabilities.
Premium Grade A Properties: 93% of WeWork India’s portfolio (5.87 million sq. ft. as of June 2024) comprises Grade A developments in prime Tier 1 cities like Bengaluru, Mumbai, and Delhi, which have shown strong office demand.
Extensive Product Range: WeWork India offers a comprehensive suite of products, including private offices, coworking spaces, managed offices, and hybrid digital solutions, with flexible lease terms catering to businesses of all sizes.
Risks
Dependence on Bengaluru and Mumbai: Over 70% of Net Membership Fees (Sept 2024) come from these cities. Economic shifts, competition, or natural disasters in these areas could significantly impact revenue, growth, and overall business performance.
Growth Challenges: While operating revenue grew by 67.58% in FY23 and 26.67% in FY24, future growth may slow due to recessions, inflation, or a shift to remote work, affecting demand for flexible workspaces.
Long-Term Lease Risks: Fixed-cost leases for 6.17 million sq. ft. across 51 centers pose risks. If unable to pay rent or attract members, cash flows and profitability could be severely impacted.
Natural/Man-Made Disasters: Events like pandemics, terrorism, or civil unrest could disrupt operations, reduce workspace demand, and harm financial stability, especially if lease obligations remain unchanged.
Regulatory Changes: New laws, such as Labour Codes, or stricter compliance requirements could increase operational costs, disrupt business, and negatively affect profitability and growth prospects.
Tax Law Changes: Unpredictable tax reforms or differing interpretations of tax laws could create financial uncertainty, impacting business operations, cash flows, and overall financial performance.
How to Apply for WeWork India IPO on INDmoney
1
Download the INDmoney app and complete your KYC to open an account.
2
Go to the INDstocks section and tap on IPO, or search for ‘IPO’.
3
Select WeWork India IPO from the list of live IPOs.
4
View key details like price band, lot size, and dates, then tap ‘Apply Now’.
5
Choose the number of lots and place your order via UPI.
6
Your funds will be blocked until the share allotment is finalized.
Financial Performance of WeWork India
Listed Competitors of WeWork India
Awfis
Awfis is a co-working space solution provider and operates on a Managed Aggregation (MA) model, partnering with space owners who cover most fit-out costs while Awfis manages operations and marketing. The company launched its IPO in May 2024.
Unlisted Competitors of WeWork India
IndiQube
IndiQube operates as a managed office space provider, offering an 'office in a box' experience that includes workspace design, interior fit-outs, and various B2B and B2C services powered by technology. Following an asset-light business model, it focuses on leasing rather than owning properties, and securing long-term leases to ensure flexibility and control.
Smartworks
Smartworks provides managed office spaces tailored to large enterprises, offering customizable workspace solutions with a focus on technology integration and employee experience. It signs multi-city deals and aims to expand into tier-2 cities, reflecting its strategy to cater to the evolving needs of corporate clients seeking flexible and scalable office solutions.
91Springboard
91springboard offers flexible workspace solutions, including dedicated desks, private cabins, virtual offices, and meeting rooms. It caters to a diverse clientele, from solo entrepreneurs to large corporate teams, through customizable membership plans. The platform also hosts events and workshops to foster a collaborative ecosystem that promotes innovation and entrepreneurship.
WeWork India Shareholding Pattern
| Promoter | 100% | |
| Name | Role | Stakeholding |
| Embassy Buildcon LLP | Promoter | 73.82% |
| Investor | 100% | |
| Name | Role | Stakeholding |
| 1 Ariel Way Tenant Limited | Investor | 22.72% |
| Others | Others | 3.46% |
About WeWork India
WeWork India operates 59 centres across eight major Tier 1 cities, including Bengaluru, Mumbai, Pune, Hyderabad, Gurgaon, Noida, Delhi, and Chennai, with a total leasable area of 6.48 million square feet and 94,440 desks as of September 30, 2024. The company serves a diverse clientele, including Fortune 500 companies, large enterprises, SMEs, startups, and individuals, with marquee clients such as Amazon Web Services, JP Morgan, and Deutsche Telekom.
WeWork India is majority-owned and promoted by the Embassy Group, a leading real estate developer in India, which provides strategic advantages in securing prime office spaces and fostering long-term relationships with prominent developers. The company’s strong brand, global network, and focus on customer satisfaction have helped it achieve high Net Promoter Scores (NPS) of 74.1 for the six months ended September 30, 2024, positioning it among the top-tier global brands.
Products & Services
WeWork On Demand
This digital product allows booking desks by the day or private offices/meeting rooms by the hour at any WeWork center.
WeWork All Access
Offers monthly membership for access to desks at WeWork locations worldwide.
Virtual Office
Enables users to create a virtual office instantly, including a business address for statutory needs, within 15 minutes.
WeWork Workplace
Helps businesses manage their workspace operations, including workforce rostering, desk allocations, and workspace management.
| Product | WeWork On Demand, Virtual Office, Workplace |
| Known For | Flexible workspace solutions |
| Top Products | PriMo, REScout, Spatial Analytics, SpaceOps app, Smart Building Solutions |