Other Deals - Listed Firms
US co-working space provider WeWork sells 2.5% stake in Indian arm for Rs.244-Cr
US-based flexible co-working and managed office spaces provider WeWork Inc. has sold a 2.53% stake in its publicly listed Bengaluru-based JV, WeWork India , for INR 244.1 crore via multiple open-market transactions.The US firm offloaded 35 lakh shares at INR 697.55 per share. The transaction was executed by 1 Ariel Way Tenant, an affiliate of WeWork Inc. The shares were acquired by several institutional investors including mutual funds and insurance companies.WeWork India currently operates 79 centers across eight cities with a capacity exceeding 1.3 lakh desks.
For FY25, WeWork India had reported about INR 1,942 Cr in Operating Income and about INR 130 Cr in PAT.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
