WeWork India, a flexible workspace administrator in India, has raised Rs 500 crore (around $57.8 million) through a rights issue. 

The continues will be utilized for the repayment of obligation, fortifying the company’s pathway to being debt-free, and decreasing our cost of capital. 

WeWork India is right now operational over eight cities, with over 1 lakh work areas, with connections over key partners such as landlords, International Property Consultants (IPCs), and individuals. 

Since its inception in India in 2016, WeWork India has extended across 63 operational centers in Chennai, New Delhi, Gurugram, Noida, Mumbai, Bengaluru, Pune, and Hyderabad. 

WeWork India’s income from operations developed 26.7% to Rs 1,665 crore in the monetary year finishing Walk 2024 as compared to Rs 1,315 crore created in the past financial year, as per the company’s solidified money related explanations recorded with the Registrar of Company.

WeWork, the once high-flying co-working space supplier, confronted noteworthy challenges in 2023 and 2024. In November 2023, the company recorded for Chapter 11 bankruptcy in the US, be that as it may, it overseen to rise from bankruptcy after a few months.

Despite these challenges, WeWork India is presently looking at an IPO, pointing for a valuation of $2-2.5 billion. Awfis got to be the to begin with Indian co-working startup to list on the stock trade, whereas Smartworks secured SEBI endorsement for its IPO. Other co-working companies like Simpliwork, Table Space, DevX, and Indiqube are also planning IPOs.

source: entrackr.