NEW DELHI: WeWork India Management (WeWork India), a flexible workspace operator, has raised Rs 500 crore via a rights issue. The funds will be utilised for the repayment of debt, strengthening the company’s pathway to being debt free, and reducing its cost of capital.
Karan Virwani, managing director & CEO of the company said, “With this capital infusion we aim to strengthen our balance sheet by repaying existing debt.”
The company is currently operational across eight cities with over one lakh desks.
It recently leased for two office spaces – WeWork Manyata Mahogany in Hebbal, Bengaluru and WeWork GERA Commerzone in Pune.
