![WeWork's India exit unlikely to hit co-working mkt](https://cdn.magzter.com/1547192204/1719254985/articles/xFZdCOgZkD9D3WxYevdsys/WEWORKS-INDIA-EXIT-UNLIKELY-TO-HIT-COWORKING-MKT.jpg)
The company last week received approval from the Competition Commission of India (CCI) to sell its entire 27.5 per cent stake in the India unit to Real Trustee Advisory Company.
The majority of the stake (72.5 per cent) in WeWork India is owned by Bengaluru-based Embassy Group.
Industry executives said there was a high demand for co-working space in India and investors were keen to enter this space, especially in India.
In a recent report, private-equity advisory firm Avendus said India's flexible (flex) workspace market was projected to reach 126 million square feet (msf) by 2028, up from 61 msf in 2023.
Moreover, the successful ₹599 crore initial public offer (IPO) of Awfis Space Solution Ltd, a co-working space firm, has turned investors more bullish on the sector.
Bu hikaye Business Standard dergisinin June 25, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin June 25, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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