Embassy Group repays Rs 1,748 crore debt, strengthens balance sheet

Embassy Group has utilized the proceeds from the offer for sale in the WeWork India IPO to significantly reduce its group-level debt. The Group has repaid ₹1,748 crore worth of Non-Convertible Debentures (NCDs), said the firm.

This has also enabled the Group to reduce the pledge on its WeWork India shares to a nominal 15%. "WeWork India IPO marks an important milestone in our ongoing efforts to strengthen our balance sheet. The debt reduction not only reinforces our financial stability but also underscores our continued commitment to maintaining a robust and sustainable financial framework,” said Jitendra Virwani, Chairman, Embassy Group.

In addition, Embassy Group has, over the years, completely repaid its ₹1,600 crore debt to Samaan Capital, further consolidating its financial position.


WeWork India’s strong operational performance and highly scalable platform have positioned it as the nation’s leading flexible workspace provider. The successful public listing serves as a compelling endorsement of Embassy Group’s strategic vision, highlighting its capability to foster market-leading enterprises that deliver long-term value to stakeholders.

WeWork India Management has raised ₹2,999.643 crore from an initial public offering, comprising an offer for sale by the promoter selling shareholder and the investor selling shareholder.