WeWork's India franchise files for Mumbai IPO
The offer will consist of the sale of 33 million equity shares by Indian real estate firm Embassy Group and 10.3 million equity shares by 1 Ariel Way Tenant. It will not issue new shares.
«The company will not receive any proceeds from the offer for sale,» WeWork India Management said in the papers filed on Saturday, which did not detail expected pricing or time frame.
WeWork India has an aggregate leaseable area of 602,012 square metres (6.48 million square feet).
Its U.S. franchisor filed for bankruptcy in November 2023, ending a months-long restructuring process involving a strategy revamp and exits from several locations.
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