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WeWork India Management has received approval from the SEBI to launch its IPO.
The deets: the IPO will be a complete offer-for-sale of up to 4.37 crore equity shares. The company will not issue any fresh shares in the offer.
Launched in 2017, WeWork India is a premium flexible workspace operator in India and has been the largest operator by total revenue in the past three financial years.
The company currently operates 59 centres across Tier 1 Indian cities, offering 94,440 desks within a total leasable area of 6.48 million square feet.
The why: the company said that the object of the offer is to achieve the benefits of listing the equity shares on the stock exchanges.
Zoom out: WeWork India's IPO comes at a pivotal moment for the flexible workspace sector. As companies increasingly adopt hybrid work models, demand for scalable, plug-and-play office spaces is rising sharply, especially in urban hubs.
