WeWork India Management Limited - IPO

Incorporated in May 2016, WeWork India Management Limited is a flexible workspace operator in India.

The organization provides a comprehensive array of flexible workspace solutions, encompassing custom-designed buildings, floors and offices, enterprise office suites, tailored managed offices, private offices, co-working spaces, and hybrid digital solutions.

The company provides flexible, high-quality workspaces for clients or members. The company's clientele includes large enterprises, small businesses, startups, and professionals.

The company primarily leases Grade A office space from developers and operates these as flexible workspaces. As of June 30, 2024, 93% of its portfolio, or 5.87 million square feet, was comprised of Grade A developments, according to CBRE.

As of September 30, 2024, the company had 94,440 desks in 59 Operational Centres covering 6.48 million square feet.

The company's clients include Amazon Web ServicesIndia Private 227Limited, JP MorganServices India Private Limited, DiscoveryCommunications India, Deutsche TelekomDigital Labs Private Limited, CBA Services Private Limited and Grant Thornton Bharat LLP.

As of September 30, 2024, the company operates in Pune, Bangaluru, Mumbai, Chennai, Hyderabad, Noida, Gurgaon and Delhi.

As of September 30, 2024, the company employed 523 permanent staff, including 15 from subsidiaries.

Competitive Strength

• Category-defining, aspirational brand, with strong international branding.
• Leadership in a rapidly growing market.
• Backed by the Embassy Group, one of India’s top developers, and relationship with WeWork Global, a global flexible workspaces operator.
• Presence in Grade A properties in top-tier micro markets and strong relationships with top developers.
• Extensive range of products and services in the industry.