Virwani said those discussions had been put on hold indefinitely and that Embassy was raising around 40 billion rupees ($563.06 million) from sales of some its assets that it would invest in WeWork India if need be. WeWork’s aborted stock market listing was followed by talks between WeWork India and its existing backer ICICI Bank , to raise an additional $100m , breaking down. The company is now in discussions with other investors to raise $200m , according to Jitu Virwani , Embassy Group ’s chairman and the venture’s main shareholder. Negotiations to sell a majority share in the venture to We have been postponed indefinitely and the group is committed to doubling WeWork India ’s capacity to six desks across six cities by two years ago , using its own capital if necessary, Jitu Virwani said. $200m m WeWork India is seeking to raise could be via an equity investment, debt or a combination of both, although achieving an earlier valuation of $ The additional $200 might now be difficult, he added.
WeWork’s aborted stock market listing was followed by talks between WeWork India and its existing backer ICICI Bank , to raise an additional $100m , breaking down. The company is now in discussions with other investors to raise $200m , according to Jitu Virwani , Embassy Group ’s chairman and the venture’s main shareholder. Negotiations to sell a majority share in the venture to We have been postponed indefinitely and the group is committed to doubling WeWork India ’s capacity to six desks across six cities by two years ago , using its own capital if necessary, Jitu Virwani said. $200m m WeWork India is seeking to raise could be via an equity investment, debt or a combination of both, although achieving an earlier valuation of $ The additional $200 might now be difficult, he added.