The development came a week after the SoftBank-backed startup removed founder Adam Neumann as its chief executive officer. " Embassy Group , which owns a majority stake in WeWork India , said the deferment of the Indian Company ’s IPO will have no impact on the Indian market , and it remains upbeat about the company ’s prospects . The JV , which is wholly owned and funded by Embassy , continues to focus on reaching further agreements with landlord partners , a spokesman for the real estate developer 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 .
Embassy Group , which owns a majority stake in WeWork India , said the deferment of the Indian Company ’s IPO will have no impact on the Indian market , and it remains upbeat about the company ’s prospects . The JV , which is wholly owned and funded by Embassy , continues to focus on reaching further agreements with landlord partners , a spokesman for the real estate developer 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 .