WeWork India has received the green light from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), the company confirmed. This marks a key milestone for the Bengaluru-based co-working space leader as it prepares to go public.
The upcoming IPO will be a pure offer-for-sale (OFS), involving the sale of up to 4.4 crore equity shares. Of this, Embassy Buildon LLP, the company’s parent, will offload 3.3 crore shares, while the remaining portion will be sold by 1 Ariel Way Tenant Ltd., an affiliate of WeWork Global.
The IPO structure means that no fresh equity will be issued by the company, and all proceeds from the offering will go to the selling shareholders. The listing is expected to allow existing investors to partially exit while paving the way for WeWork India to operate with increased financial transparency and public accountability.
“WeWork India Management has received approval from India’s capital markets regulator to launch its initial public offering, the company confirmed.”
To facilitate the listing, WeWork India has brought on board a strong group of financial institutions. The appointed book-running lead managers include JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM, all of which will play a critical role in executing the IPO process.
The company had initially filed its Draft Red Herring Prospectus (DRHP) with SEBI in February this year, outlining the details of its offer-for-sale and proposed use of funds by shareholders.
As one of India’s largest co-working space providers, WeWork India has seen growing demand for flexible office spaces, driven by evolving work trends and the hybrid work model. The IPO will mark a significant chapter in the company’s journey and is likely to be closely watched by investors and industry players alike.
With SEBI’s approval secured, WeWork India is now expected to proceed with setting a launch timeline and finalizing the offer price in the coming months.
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