WeWork India's IPO: Navigating Losses Amid Revenue Growth

WeWork India is set to launch its IPO despite reporting a loss in Q1 2024. The company saw a 19% rise in revenue and is valued at Rs 8,685 crore. The IPO, an Offer For Sale, aims to increase visibility and liquidity. It operates in key Indian cities.

WeWork India, the co-working space giant, is preparing to launch its Initial Public Offering (IPO) this week, despite reporting a Rs 14.14 crore loss for the first quarter of this fiscal year. This comes as the company experiences a 19% uptick in revenue amidst surging office space demand.

In its latest draft papers filed with SEBI, WeWork India, which was founded in 2017 and operates under the exclusive WeWork brand license, reported a significant increase in first-quarter revenue to Rs 535.31 crore, compared to Rs 448.65 crore during the same period last year.

The IPO, which is an entirely Offer For Sale (OFS) involving up to 4.63 crore equity shares, is expected to boost the company's visibility and market liquidity but won't generate new funds for WeWork India, as proceeds will benefit selling stakeholders.

(With inputs from agencies.)