New Delhi: Co-working major WeWork India is gearing up to launch its initial public offering (IPO) on October 3, with people aware of the matter pegging the issue size to nearly Rs 3,000 crore.

The issue will close on October 7, with bidding for anchor investors opening for a day on October 1, as per the red herring prospectus (RHP).

As per the draft papers, the proposed IPO is entirely an Offer for Sale (OFS) of up to 4.63 crore equity shares. Promoter group firm Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd (part of WeWork Global) will offload shares.

Since the issue is an OFS, WeWork India itself will not receive any proceeds from the listing.

Currently, Embassy Group holds about 76.21 per cent in WeWork India, while WeWork Global owns 23.45 per cent.

Established in 2017

See Full Page