WeWork Global has completed the sale of a 2.5% stake in WeWork India Management for ₹244 crore through open market transactions. According to block deal data on the BSE, WeWork Global offloaded 35 lakh equity shares in five tranches at an average price of ₹697.55 per share. The transaction reduced 1 Ariel Way Tenant Ltd's holding from 14.82% to 12.3%, though WeWork Global remains the largest public shareholder in the company.
Despite the stake sale, WeWork India Management reported a consolidated net loss of ₹4.30 crore for the first quarter of this fiscal year, an improvement from the ₹14.10 crore loss recorded in the year-ago period. The company's total income rose significantly to ₹700.74 crore during the April-June quarter, compared to ₹545.71 crore in the corresponding period of the previous year. The venture originated as a joint venture between WeWork Global and Embassy Group in 2017.
Following the announcement, shares of WeWork India Management fell 1.57% to close at ₹707.80 on the BSE. The transaction saw participation from multiple institutional investors including Motilal Oswal Asset Management Company Ltd PMS, Motilal Oswal Mutual Fund, ICICI Prudential MF, HDFC Standard Life Insurance Company Ltd, and Citigroup Global Markets Mauritius, who purchased an equal number of shares at the same price.
