WEWORK INDIA MANAGEMENT LIMITED FILES DRHP WITH SEBI
WeWork India Management Limited (“WeWork India”), one of India’s leading premium flexible workspace operators 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”).
The company provides flexible, high-quality workspaces to a diverse range of customers, including large enterprises, small and mid-size businesses, startups, and individuals. Its member base includes a marquee roster of Fortune 500 companies, international and domestic corporations, large enterprises, GCCs, MSMEs, and startups.
The company’s initial public offering comprises 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.
JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and 360 ONE WAM Limited are the Book Running Lead Managers to the issue.
WeWork India’s strength of its brand and offerings, combined with its association with the WeWork global network, has enabled it to attract and foster long-term relationships with marquee global brands, including Amazon Web Services, JP Morgan, Warner Bros. Discovery, Deutsche Telekom, and Grant Thornton. The company is the exclusive licensee of the WeWork Brand in India.