Co-working space provider WeWork India is targeting over 20 per cent revenue growth in the coming years, even as its initial public offering (IPO) — comprising only an offer-for-sale (OFS) — is valued at ₹3,000 crore at the top of the price band. The IPO opens on October 3, according to a newspaper advertisement.

Karan Virwani, managing director and CEO of WeWork India, highlighted the company’s consistent growth trajectory: “Over the last few years, we have seen 20-25 per cent revenue growth and over 30 per cent growth in EBITDA. From a capacity standpoint, we’ve added roughly 20 per cent year-on-year over the last three years. Going forward, we expect a similar trend.”

The India arm operates independently of its global parent, WeWork, which filed for bankruptcy in 2023, and has confirmed that its operations will remain unaffected.

With the IPO, the company’s promoter, Embassy Buildcon, an entity of Bengaluru-based Embassy Group, will sell up to 3.54 crore shares, bringing down its stake from 73.56 per cent to about 47-48 per cent.

On the other hand, 1 Ariel Way Tenant, a WeWork Global entity and an investor selling shareholder, will sell up to 1.08 crore shares, bringing down its stake from 22.64 per cent to about 15-16 per cent.

Speaking about the divestment, Virwani said, “One part of the disinvestment is to just return the capital invested and be able to use that capital in other parts of Embassy Group’s business and continue to strengthen the overall group story as well. The reason for doing the IPO now is that we feel that over the last eight years, especially in the last two to three years, we’ve de-risked the business completely. The need for capital within the business is pretty much zero. We’re a fully self-sustaining business.”

The company’s revenue from operations increased by 26.67 per cent from ₹1,314.52 crore in financial year 2023 (FY23) to ₹1,665.14 crore in FY24, and also increased by 17.06 per cent from ₹1,665.13 crore in FY24 to ₹ 1,949.21 crore in FY25. In Q1 FY26, the revenue increased by 19.32 per cent to ₹535.31 crore.

As of June 2025, the company’s desk capacity in its operational centres was around 1.14 lakh.  The company aims to grow its capacity by over 20 per cent going ahead, mostly with the help of its internal accruals.

As of June 2025, the company’s cash and cash equivalents stood at ₹8.77 crore, down from ₹14.04 crore as of June 2024, mainly due to net cash used in investing activities.

The company incurred net losses for Q1 FY26 primarily as a result of its depreciation and amortisation expenses, finance costs and operating expenses. In FY25, the company had a restated profit of ₹128.2 crore, as well as a deferred tax credit of ₹285.74 crore.