New Delhi, Oct. 2 -- Once hailed as the poster child of startup ambition, WeWork Inc. soared fast and fell even faster, rewriting the playbook on hype-driven valuations. In India, however, the story is markedly different. WeWork India is operated by Embassy Group, which holds a 73.6% stake, while the US parent, through its wholly owned subsidiary 1 Ariel Way Tenant, owns 22.7%.

The company is now set to launch its initial public offering (IPO) on 3 October. Priced at Rs.615-648 per share, the Rs.3,000 crore issue (at the upper price band) is a pure offer-for-sale of 46.3 million shares: Embassy Group will offload 35.4 million, and 1 Ariel Way Tenant will sell 10.9 million. Post-IPO, their stakes will fall to 48.1% and 14.8%, respectively...