WeWork India IPO Opens: Price, GMP & Should You Subscribe?

WeWork India Management Ltd opened its IPO for subscription today, October 3, 2025. Valued at Rs 3,000 crore, the IPO is a complete offer for sale (OFS) of 4.63 crore shares, with proceeds going entirely to the selling shareholders.

The price band is set at Rs 615–648 per share, with subscription open until October 7, 2025. Retail investors can apply for a minimum of 23 shares (Rs 14,904 at the upper band). Small non-institutional investors (sNII) must apply for 14 lots (322 shares), while large non-institutional investors (bNII) must apply for 68 lots (1,564 shares).

Before the IPO opened, WeWork India raised Rs 1,348.26 crore from anchor investors on October 1, 2025. JM Financial Ltd is the book-running lead manager, and MUFG Intime India Pvt. Ltd is the registrar.

Company Overview

Founded in 2016, WeWork India offers co-working spaces, managed offices, enterprise suites, private offices, and hybrid digital solutions. As of June 30, 2025, it had 68 operational centers with 1,14,077 desks across eight Indian cities, with Bengaluru and Mumbai contributing a major share of revenue.

The company serves large enterprises, small businesses, startups, and independent professionals, offering both customized and ready-to-use workspaces.

Should You Invest?

Brokerages have mixed opinions:

• Angel One: “Neutral” – high valuation with P/E of 67.7x at the upper price band. Benefits from the growing flexible workspace sector but faces high fixed costs, revenue concentration, and market risks.

• SBI Securities: “Neutral” – P/E of 50.1x FY25 earnings at the upper band. Benefits from its global parent’s backing, but investors should watch post-listing performance.

Grey Market Premium (GMP)

As of October 3, 2025, 8:02 AM, the GMP stood at Rs 15, implying an estimated listing price of Rs 663 and expected gains of about 2.31%.

Key Dates

• IPO Open: October 3, 2025

• IPO Close: October 7, 2025

• Allotment Date: October 8, 2025

• Listing Date: October 10, 2025 (BSE & NSE)

Expert Take: The IPO offers exposure to India’s growing flexible workspace sector. Given it’s an OFS, the company doesn’t benefit directly from proceeds. Investors with higher risk appetite may consider subscribing, while conservative investors may wait to see post-listing performance.

Disclaimer: Views are of experts/brokerages and do not reflect AIS. Consult a financial advisor before investing.