WeWork India, the licensed operator of the WeWork brand in India, has filed for an initial public offering of ₹3,000 crore, or approximately $340 million USD. The IPO will open for anchor investor bids on Oct. 1, with the subscription period running from Oct. 3 to Oct. 7. This follows approval from India’s Securities and Exchange Board earlier this year.
According to reporting by Entrackr, the offering consists entirely of an offer for sale of 4.63 crore shares priced between ₹615 – 648 each, valuing the total issue up to ₹3,000 crore.
Embassy Buildcon LLP, the company’s main promoter, plans to sell 3.54 crore shares worth about ₹2,294 crore. Meanwhile, 1 Ariel Way Tenant, a WeWork Global affiliate, will also sell up to 1.08 crore shares valued at about ₹706 crore.
As of the filing, Embassy Buildcon held a 73.56 percent stake in WeWork India, while 1 Ariel Way Tenant owned 22.64 percent.
The IPO is being managed by JM Financial, ICICI Securities, Jefferies, Kotak and 360 One, with MUFG Intime serving as registrar.
