Co-working firm WeWork Inc. (OTCPK:WEWK.Q) (WeWork Global), which has filed for bankruptcy in the US, is in talks with potential investors to sell its entire 27% stake in Wework India Management Private Limited (WeWork India) to monetise its investments, sources said. Bengaluru-based real estate firm Embassy Property Developments Private Limited (Embassy Group), which holds the remaining 73% stake in WeWork India, might also dilute some shareholdings to raise funds, they added. WeWork India, which started operations in 2017, has over 8 million square feet of assets signed across 54 locations in New Delhi, Bengaluru, Mumbai, Gurugram, Noida, Pune, and Hyderabad.

WeWork India had posted a turnover of INR 14,000 million during the 2022-23 fiscal year. In June 2021, WeWork Global invested USD 100 million in WeWork India to pick a 27% stake. The investments helped Indian business to tide over the financial difficulties during the COVID pandemic, which had severely affected the office market.

When contacted, WeWork India Chief Executive Officer Karan Virwani declined to comment. Sources said, WeWork India will continue to use the 'WeWork' brand even if WeWork Global sells its entire stake and exits from the India business. WeWork India will pay some fees to use the brand name.

?WeWork India operates independently of WeWork Global, and our operations will not be affected in any manner,? Virwani had said.