WeWork India Management Limited Files DRHP With SEBI For IPO

WeWork India Management Limited, India's leading premium flexible workspace operator 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). WeWork India serves flexible, high-quality workspaces to various clients, including large enterprises, small and mid-size businesses, startups, and individuals.

The company's initial public offering (IPO) consists of 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.

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

WeWork India benefits from its strong brand and offerings and its affiliation with the WeWork global network. This collaboration has allowed the company to establish long-term relationships with major global brands, including Amazon Web Services, JP Morgan, Warner Bros. Discovery, Deutsche Telekom, and Grant Thornton. Notably, WeWork India is the exclusive licensee of the WeWork brand in India.