India, Sept. 29 -- Coworking space provider WeWork India has set a price band of INR 615 to INR 648 for its IPO, which is set to open on Friday (October 3).

The public issue will solely comprise an offer for sale of up to 4.62 Cr equity shares, as per the company's red herring prospectus (RHP). This is slightly higher than the 4.37 Cr shares the company mentioned in its DRHP.

While promoter Embassy Buildcon LLP will offload up to 3.54 Cr shares via the OFS, WeWork International Ltd's wholly owned subsidiary 1 Ariel Way Tenant Limited will sell up to 1.08 Cr shares.

At the upper end of the price band, the selling shareholders will cumulatively raise INR 3,000 Cr. At INR 648, the company would be valued at INR 8,684 Cr (about $978.6 Mn)...