WeWork India‘s franchisee has filed for an initial public offering (IPO) in Mumbai. The offering will include the sale of 33 million equity shares by Embassy Group and 10.3 million equity shares by 1 Ariel Way Tenant, without issuing new shares. As a result, WeWork India not receive any proceeds from the sale.
The franchise has a total leasable area of 6.48 million square feet. WeWork‘s U.S. parent company filed for bankruptcy in November 2023 after undergoing a restructuring process due to significant losses from expensive leases and decreased demand during the pandemic.
WeWork India is managed by real estate tycoon Jitu Virwani and his son Karan Virwani, who is the CEO. The Virwanis own the Bangalore-based developer Embassy Group. The draft papers for the IPO did not specify pricing or a timeline for the offering.
Last updated: December 26th, 2025
