5 per cent stake in flexible workspace operator WeWork India Management for Rs 244 crore through open market transactions. 52 per cent stake in WeWork India Management.

14 crore. 82 per cent.

Despite the stake sale, WeWork Global through its arm will remain the largest public shareholder in the company. Meanwhile, Motilal Oswal Asset Management Company Ltd PMS, Motilal Oswal Mutual Fund (MF), ICICI Prudential MF, HDFC Standard Life Insurance Company Ltd, and Citigroup Global Markets Mauritius bought an equal number of shares at the same price.

30 crore for the first quarter of this fiscal year due to higher expenses. 10 crore in the year-ago period.

71 crore in the corresponding period of the preceding year. In 2017, WeWork India began as a joint venture between WeWork Global (US-based WeWork Inc) and Embassy Group.

After WeWork Inc filed for Chapter 11 bankruptcy in the US, it moved to sell off its India stake entirely. WeWork India is majority-owned and promoted by Embassy Group, and is the exclusive licensee of the WeWork brand in the country.