Embassy Buildcon-backed WeWork India Management, the Bengaluru-based premium flexible workspace operator, has raised Rs 1,348.26 crore from several anchor investors on October 01, a day before the launch of Rs 3,000-crore initial public offering (IPO).
The company is set to open its IPO, which consists entirely of offer-for-sale of 4.6 crore equity shares, for public subscription on October 3, and close on October 7. The price band for the offer has been fixed at Rs 615-648 per share.
Promoter Embassy Buildcon LLP will be selling 3.54 crore equity shares, and investor 1 Ariel Way Tenant 1.08 crore shares via offer-for-sale. This means the entire IPO proceeds will be received by these two shareholders, and the company will not receive any IPO funds.
Embassy Buildcon holds 73.56 percent stake in the company, while investor 1 Ariel Way Tenant has 22.64 percent shareholding.
WeWork India Management informed exchanges on Wednesday that it has finalised allocation of 2,08,06,548 equity shares to 67 anchor investors at Rs 648 per share.
Marquee investors like Goldman Sachs, Ashoka Whiteoak, Amundi Funds, Allianz Global, Integrated Core Strategies, BNP Paribas Financial Markets, and Societe Generale participated in the anchor book.
Several domestic institutional investors like ICICI Prudential Mutual Fund, HDFC AMC, WhiteOak Capital, 360 ONE, Motilal Oswal AMC, HDFC Life Insurance, Aditya Birla Sun Life AMC, Axis Mutual Fund, Invesco India, Mirae Asset, Tata Mutual Fund, Tata AIG General Insurance, SBI General Insurance, Nuvama, Edelweiss, Canara HSBC Life Insurance, Bank of India MF, Kotak Mahindra Life Insurance, and JM Financial also picked significant stake in the company though anchor book.
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"Out of the total allocation of 2.08 crore equity shares to the anchor investors, 96.79 lakh shares worth Rs 627.21 crore were allocated to 13 domestic mutual funds, which have applied through their 32 schemes," WeWork India in its filing to exchanges said.
The flexible workspace solutions provider has a portfolio of 1,14,077 desks across 68 operational centres with total leasable area of 7.67 million square feet, of which 94 percent, or 7.07 million square feet of portfolio was in Grade A developments as of June 2025.
The company will finalise IPO share allotment by October 8, while the trading in WeWork shares will commence on the bourses on October 10.
JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company, and 360 ONE WAM are acting as the WeWork India IPO.
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