WeWork India fights for funds, relevance; hopes to raise $200 million

Embassy Group may pitch in

Feeling the domino effect of WeWork’s stock market launch debacle, its India franchise is planning to raise $200 million on its own by the end of this year. The firm, which reportedly saw a breakdown of talks to raise $100 million with a bank after the WeWork IPO launch debacle, hopes to prove that its India business is making profits.

Jitu Virwani, chairman and managing director of Embassy Group, said the firm was also looking at disinvestment of Rs 4,000 crore ($563 million), part of which might go towards the co-working business. 

“We plan to raise Rs 4,000 crore to pare debt