Embassy Group, which owns a majority stake in WeWork India, said the deferment of the We Company’s IPO will have no impact on the Indian JV, and it remains upbeat about the company’s prospects. “We are confident that we can continue to grow our business through this process as well as other opportunities for growth within India and around the world,” Mr. Jain said. Earlier this year, the New York-based co-workspace operator offered to buy a 70% stake in WeWork India from Embassy, in a deal valuing the company at $2.75bn. With accelerated expansion plans, WeWork India is firing across all metrics and its fundamentals have never been stronger," an Embassy Group spokesperson told PTI in an e-mailed query. WeWork India operates 25 locations across the country.
Embassy Group, which owns a majority stake in WeWork India, said the deferment of the We Company’s IPO will have no impact on the Indian JV, and it remains upbeat about the company’s prospects. “We are confident that we can continue to grow our business through this process as well as other opportunities for growth within India and around the world,” Mr. Jain said. Earlier this year, the New York-based co-workspace operator offered to buy a 70% stake in WeWork India from Embassy, in a deal valuing the company at $2.75bn. WeWork India operates 25 locations across the country.