WeWork India IPO sees flat market debut

Earlier, in an exclusive interaction with Fortune India, WeWork India MD and CEO Karan Virwani said that there is no fresh issue component as the company is already self-sustaining, generating sufficient cash to fund both operations and expansion.

“Over the last eight years, we’ve fully invested in our infrastructure. In January, we infused capital to pay down debt. The business is now generating enough cash to support operations and growth,” he said. According to him, the IPO aims to facilitate future growth plans while leveraging the company’s existing investments.

Established in May 2016, WeWork India Management provides a comprehensive array of flexible workspace solutions, catering to large enterprises, small businesses, startups, and professionals. It benefits from its affiliation with WeWork Global, which operates in 35 countries with around 600 locations. As of September 30, 2024, the company had 94,440 desks across 59 operational centres, spanning a total leasable area of 6.48 million square feet.