The IPO of WeWork India launched on October 3, 2025, ends today on October 7,2025. The IPO is one of the year’s most awaited public issues in the flexible workspace segment, with investors closely tracking its performance, grey market premium, and subscription trends.
WeWork IPO: Overview
The WeWork India Management Limited IPO aims to raise ₹3,000 crore through an entirely Offer for Sale (OFS), with major stakes offloaded by Embassy Buildcon LLP and 1 Ariel Way Tenant Limited. The share price band is fixed between ₹615 and ₹648 per share, and its tentative listing date is October 10, 2025, on both BSE and NSE. Investors can apply for a minimum lot size of 23 shares, equating to an investment of around ₹14,904. The IPO features a substantial institutional allocation but a limited retail segment (only 10% reserved for retail investors), owing to the company’s recent history of losses.
WeWork IPO: Current Grey Market Premium (GMP) Trends
The grey market premium (GMP) for WeWork India’s IPO began with some optimism, peaking at ₹15 ahead of its opening. However, by the final day of subscription, the GMP had dropped to zero, indicating market participants anticipate a flat listing at the upper band price of ₹648 per share. Analysts point out the GMP’s volatility reflects conservative sentiment and modest interest, especially given the muted overall demand in initial subscription days.
WeWork IPO: Key Financials and Market Position
Founded in 2017, WeWork India has expanded to 68 centres across eight major cities, covering 7.35 million sq. ft. It claims industry leadership with blue-chip clients like JP Morgan, Amazon, and Uber, and enterprise clients form nearly 60% of tenancy. The company turned profitable in FY25, posting a profit after tax of ₹128 crore compared to a ₹147 crore loss in FY23. Revenues rose to ₹1,949 crore in FY25. The adjusted EBITDA margin now stands at 21.6%, a strong indicator of improved operational performance.
WeWork IPO: Analyst Opinions and Valuation
At the upper end, the IPO is priced at 65 times FY25 earnings, which many experts regard as a premium compared to listed rival Awfis Space (trading at 58x). While Canara Bank Securities and other brokerage houses note WeWork India’s strong turnaround, operational scale, and brand value as positives, they caution investors about lease renewal risks and global parent vulnerabilities after WeWork Global’s recent insolvency issues.
WeWork IPO: Nutshell
Though the WeWork India IPO represents a significant bet on India’s commercial real estate trends and flexible workspace demand, tepid subscription and flat GMP point toward uncertainty. A long-term view may be more appropriate for investors seeking stable growth in this evolving sector.
