WeWork India Management Limited has e-filed an application with the NCLT to reduce its share capital. The company plans to utilize ₹2,050.16 Cr from its securities premium account to fully wipe out accumulated losses of ₹2,050.16 Cr, cleaning up its balance sheet to reflect a stronger financial position.
WeWork India's board approved a 10 MWp captive solar plant in Karnataka. This plant aims to generate 15-16 million units annually, powering 10 Bengaluru centers. The move boosts renewable energy use, from 40% to 50%, and is expected to drive long-term energy cost efficiency.
WeWork India has dispatched letters to members regarding the 10th Annual General Meeting and Annual Report for FY25-26. The AGM will be held virtually.
Board approves expansion of business scope to include e-commerce and digital platforms. Share capital reclassification and reduction of accumulated losses using Securities Premium Account also approved.
WeWork India reported a strong operational update with a 30% YoY increase in AUM to 12 MSF. EBITDA surged 69.3% YoY to ₹138.3 Cr, with margins expanding to 19.8%. The company added 6.7k desks, with demand outpacing capacity.
