WeWork India started in 2017 under Karan Virwani, son of Embassy Group chairman Jitendra Virwani, after Embassy bought the India franchise rights.[5] It opened its first centre in Bengaluru and later expanded to other cities[6][7][8] It also added managed offices for companies and products such as All Access, On-Demand and Virtual Office, the last through a 2024 tie-up with myHQ.[9] In 2023 it acquired the Bengaluru technology startup Zoapi.[10][11]
After WeWork's global parent filed for bankruptcy in 2023, the company said its Indian business was not affected.[4][12] WeWork's global affiliate, which held about 27 per cent through 1 Ariel Way, exited in 2024 when Embassy bought its stake.[13][14][15] In November 2024 Jitendra Virwani became chairman and Karan Virwani managing director and chief executive officer.[16] By mid-2025 it ran about 59 centres with roughly 94,440 desks across 6.48 million square feet.[2][17]
Finances
In 2025 revenue rose to about ₹1,949 crore (US$200 million) and it reported a net profit of about ₹128 crore (US$13 million) and its net worth was negative at about ₹437 crore (US$45 million).[18][19] It reported a net profit of about ₹16.78 crore (US$1.7 million) in the December 2025 quarter.[20]
Initial public offering
WeWork India filed for an IPO in February 2025 and received SEBI approval in July 2025.[1][2] The ₹3,000 crore (US$310 million) issue was entirely an offer for sale by Embassy Buildcon and 1 Ariel Way Tenant, so no money went to the company.[21][22] It raised ₹1,348 crore (US$140 million) from anchor investors.[23][24] The shares listed on 10 October 2025 and traded near or below the issue price.[3][25] Embassy used part of the proceeds to repay about ₹1,748 crore (US$180 million) of debt.[26] Before the listing, the proxy adviser InGovern and others flagged the negative net worth, the tax-credit-driven profit, promoter litigation and share pledging.[19][27][28]
Legal challenges
Petitions in the Bombay High Court challenged preparations for the IPO because of significatn criminal proceedings against the future shareholders and some connected beneficiaries. However, the court dismissed the petitions in December 2025.[29][30] In March 2026 the Supreme Court of India declined to intervene.[31][32]
Informasi ini disarikan dari Wikipedia dan disajikan kembali untuk tujuan edukasi. Konten tersedia di bawah lisensi CC BY-SA 3.0. Kami tidak bertanggung jawab atas ketidakakuratan data yang bersumber dari kontribusi publik tersebut.
The information displayed on this website is sourced in part or in whole from Wikipedia and has been adapted for the purpose of restating it. We strive to provide accurate and relevant information, however:
There is no guarantee of absolute accuracy. Wikipedia is an open, collaborative project that can be edited by anyone, so information is subject to change.
It is not intended to constitute professional advice. The content displayed is for informational and educational purposes only. For important decisions (e.g., medical, legal, or financial), please consult a professional.
Content copyright. Wikipedia is licensed under the Creative Commons Attribution-ShareAlike License (CC BY-SA). This means that content may be reused with appropriate attribution and shared under a similar license.
Responsible use. Any risk arising from the use of information from this website is entirely the responsibility of the user.