One of the leading flexible workspace operators in India Aims to Reduce Debt
FinTech BizNews Service
Mumbai, January 13, 2025: WeWork India Management Limited (“WeWork India”), one of the leading flexible workspace operators in India has successfully raised INR 500 crore via a rights issue. The funds will be utilised for the repayment of debt, strengthening the company’s pathway to being debt free, and reducing our cost of capital.
With this strategic move, WeWork India is committed to its endeavour to deliver value to its members and stakeholders.
Commenting on the development, Karan Virwani, Managing Director & CEO, WeWork India, said, “Over the past eight years, we have been focused on long-term, sustainable growth. With the recent successful completion of our rights issue, we are on the path to being debt-free. This underscores the trust and confidence our investors/shareholders have in our vision and strategy in India. With this capital infusion we aim to strengthen our balance sheet by repaying existing debt and aim to drive growth which will cement WeWork India's position in the industry.”
WeWork India is currently operational across 8 cities, with over 1 lakh desks, with strong relationships across key stakeholders such as landlords, International Property Consultants (IPCs), and members. With solutions for all kinds of businesses – solopreneurs and start-ups to Fortune 500 companies – WeWork India offers workspace solutions that deliver a quality experience.
