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WeWork India gets SEBI nod for IPO; Embassy Group to offload stake via OFSWeWork India's IPO consists of 3.3 crore equity shares held by real estate company Embassy Group and 1.03 crore equity shares held by 1 Ariel Way Tenant, a WeWork Global affiliate. The company will not issue new shares.By Meghna Sen   July 15, 2025, 11:48:37 AM IST (Published)2 Min ReadA week after its draft IPO papers were taken out of abeyance, WeWork India Management has secured approval from capital markets regulator SEBI to launch its market debut.

WeWork India had filed draft papers for the IPO in early February.

The offer consists of 3.3 crore equity shares held by real estate company Embassy Group and 1.03 crore equity shares held by 1 Ariel Way Tenant, a WeWork Global affiliate. The company will not issue new shares.

The domestic franchisee of the US shared office space manager is yet to disclose how much it intends to raise through the IPO.

In its draft papers, the company said that the object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.

In an interaction with CNBC-TV18 earlier, Jitu Virwani, Chairman of Embassy Group, WeWork India’s promoter, confirmed the IPO was moving forward. "Yes, hopefully it will happen shortly. We’ve filed our DRHP."

Jitu Virwani explained how the coworking business complements Embassy’s broader real estate strategy. “It’s one of those businesses which, when we looked at it, was complementary to our traditional business,” he said. “Everything is cross-functional and is working for us.”

Co-working, he stressed, is now central to how companies approach office space. “It’s an extension and co-working is the way forward.”

Aditya Virwani, Managing Director of Embassy Group, echoed that sentiment. “About 27% of office absorption is happening in this space, so it really makes sense for Embassy to have a position here,” he said. While acknowledging that the global WeWork brand has had its challenges, he added, “The India story is really interesting. People should look out for what’s happening with WeWork India.”

WeWork India is controlled by real estate tycoon Jitu Virwani and his son Karan, who own Bengaluru-based developer Embassy Group.

Karan Virwani is also the CEO of WeWork India.

JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company and 360 ONE WAM are responsible for managing the public issue.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsIPOWeWork India