WeWork ’s aborted stock market listing was followed by talks between WeWork India and its existing backer ICICI Bank , to raise an additional $ 100 m , breaking down . REUTERS/ The company is now in discussions with other investors to raise $ 200 m , 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 increasing We India ’s capacity to 90,000 desks across six cities by the end of 2020 , using its own capital if necessary , Virwani said . The additional $ 200 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 $ 3bn 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 $ 100 m , breaking down . The company is now in discussions with other investors to raise $ 200 m , 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 increasing We India ’s capacity to 90,000 desks across six cities by the end of 2020 , using its own capital if necessary , Virwani said . The additional $ 200 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 $ 3bn might now be difficult , he added .