WeWork India has set its initial public offering share price band at 615 to 648 rupees per share, targeting a valuation of about 86.85 billion rupees or roughly 979 million US dollars.

The IPO will open to retail investors on October 3, with anchor investors able to place bids beginning October 1. The offering consists entirely of existing shares, meaning no new shares will be issued.

The company is majority owned by the Embassy Group and operates coworking centers in eight Indian cities. By going public, WeWork India aims to raise its brand profile and provide liquidity for current shareholders.

Once listed, it will compete more directly with other Indian coworking providers such as Smartworks and Awfis.