Upcoming IPO: Bengaluru-based workspace operator WeWork India has filed its draft purple herring prospectus (DRHP) with the markets regulator, the Securities and Alternate Board of India (SEBI), because it goals to boost funds from the Indian inventory market.
WeWork India is a versatile workspace operator in India that gives workspaces to our prospects, together with corporations of all sizes and startups. The corporate primarily provides Grade A workplace areas on lease throughout Tier 1 cities.
WeWork India IPO Particulars
WeWork India is providing a book-built public difficulty of a whole offer-for-sale (OFS) part of as much as 4,37,53,952 or almost 4.37 crore fairness shares with a face worth of ₹10 per share, in response to the DRHP information.
The overall worth of the general public difficulty just isn’t disclosed within the DRHP paperwork.
There isn’t any contemporary difficulty portion on this preliminary public providing, and therefore, all of the proceeds raised from the general public difficulty will go in the direction of the promoters promoting stakeholding within the agency, and the corporate is not going to obtain any share of the cash raised.
Embassy Buildcon LLP and 1 Ariel Means Tenant Ltd are the promoter promoting stakeholder and the investor promoting stakeholding, respectively. Embassy Buildcon LLP is promoting as much as 3.34 crore fairness shares, and 1 Ariel Means Tenant Ltd is promoting as much as 1.02 crore fairness shares by way of the IPO.
JM Monetary Ltd, ICICI Securities Ltd, Jefferies India Pvt. Ltd, Kotak Mahindra Capital Co. Ltd, 360 ONE WAM Ltd are the book-running lead managers for the general public difficulty, whereas MUFG Intime India Pvt Ltd (Previously Hyperlink Intime India Pvt Ltd) is the registrar to the supply.
WeWork India Financials
WeWork India’s web revenue for the September quarter of the monetary yr 2024-25 was ₹174.13 crore. The corporate made a web lack of ₹135.83 crore as of the monetary yr ended 2023-24, in comparison with a web lack of ₹145.86 crore within the monetary yr 2022-23. The corporate’s loss for the fiscal yr ended 2021-12 was at ₹642.99 crore, in response to the draft papers.
The overall revenue for the corporate was ₹960.76 crore as of the second quarter of the 2024-25 fiscal. WeWork India’s web value was ₹(259.88) throughout the identical interval.
Disclaimer: The views and proposals above are these of particular person analysts, specialists and broking corporations, not of Mint. We advise traders to examine with licensed specialists earlier than making any funding choices.
