WeWork India raises ₹500 crore via rights issue to reduce debt

WeWork India Management Limited, a prominent flexible workspace operator in the country, announced the successful raising of ₹500 crore through a rights issue. The funds will be utilized for debt repayment, aimed at paving the way for the company to become debt-free and reducing its cost of capital.

Commenting on the development, Karan Virwani, Managing Director & CEO of WeWork India, stated, “With the successful completion of our rights issue, we are on the path to being debt-free. This reflects the confidence our investors and shareholders have in our strategy. The capital infusion will strengthen our balance sheet and drive future growth.”

Advertisement

WeWork India currently operates in eight cities, offering over 1 lakh desks across 63 centres. The company caters to diverse workspace needs, from startups to Fortune 500 companies, through its flexible workspace solutions.