WeWork Contemplates Return to Stock Market via $407 Million IPO

WeWork, the global coworking giant, is set to make a comeback in India with an initial public offering (IPO) planned for August. The move comes after a tumultuous period for the company, which filed for bankruptcy in late 2023, following financial struggles and governance lapses.

However, the company has since undergone a significant restructuring, and its efforts have paid off. According to recent reports, these efforts have saved the firm an estimated $12 billion and allowed WeWork to recover from its peak of 777 locations across 39 countries. Post-bankruptcy, WeWork now operates around 600 locations worldwide, with India playing a strategic role in its future growth.

John Santora, WeWork's CEO, highlighted India's importance for the company's future in April. The Indian unit of WeWork currently operates 94,440 desks across 59 centers, occupying 6.48 million square feet. This makes WeWork India one of the leading players in the Indian coworking market, joining the ranks of Awfis, Smartworks, and The Executive Centre, all of which are tapping public markets for growth.

The IPO will consist of up to 43.75 million shares, primarily from Embassy Buildcon and 1 Ariel Way Tenant, an Indian and UK-based real estate company. The Indian unit's IPO has received regulatory approval to proceed and is happening amid increasing demand for flexible office space in India.

Global firms are expanding their back-office operations and seeking more agile leasing models, and WeWork is well-positioned to cater to this demand. Santora emphasizes that big banks and financial institutions are growing their presence in India and are looking for flexible leasing options, which WeWork can provide.

The IPO is expected to raise up to 35 billion Indian rupees ($407 million) for WeWork India. The new CEO of WeWork India after the IPO, expected in August 2025, has not been specified in the available search results.

The successful IPO will mark a significant milestone for WeWork as it aims to recover from its past struggles and position itself as a key player in the global coworking market once again. The company's focus on India, a rapidly growing market, is a strategic move that could anchor WeWork's next act.