WeWork India, controlled by Embassy Group, has filed for an initial public offering (IPO) on the Mumbai stock exchange.

While the official valuation is unconfirmed, it could reach $2.5B. WeWork India operates independently from the U.S.-based WeWork group and has seen significant revenue growth and profitability. The company manages 50 locations with over 90,000 desks across seven cities in India. They saw 26.7% growth in revenue in 2024 to around $190M, and reported an operating profit of around $20M in first half of 2024.

This IPO comes amidst a booming coworking sector in India, with several other operators also expanding and attracting significant investments. Worth noting that the IPO would not inject cash into the company, but will offer liquidity to the ownership group.