WeWork India Management Ltd has filed an application with the National Company Law Tribunal , Bengaluru Bench, seeking approval for the proposed reduction of its share capital through the utilisation of its Securities Premium Account. The company e-filed the application in Form RSC-1 on September 11 under Section 66 read with Section 52 of the Companies Act, 2013, and the National Company Law Tribunal Rules, 2016.
The move follows approvals granted by the company’s Board of Directors on July 16, 2026, and its members on August 25, 2026. Under the proposed reduction, WeWork India plans to utilise ₹2,050.16 crore from the ₹2,158.99 crore balance in its Securities Premium Account to fully set off accumulated losses of ₹2,050.16 crore as of March 31, 2026.
The company said the proposed reduction would eliminate the accumulated losses from its books of account and help present a true and fair view of its financial position. Shares of WeWork India Management closed 0.90% lower at ₹670.85 on the NSE on Friday.
The NCLT application comes as WeWork India reported a sharp improvement in its financial performance for the first quarter of FY27, with its net loss narrowing to ₹4.3 crore from ₹14.1 crore in the year-ago period. The improvement was supported by higher demand for flexible workspaces, which helped drive growth in revenue and operating profit.
Revenue rose 27.7% year-on-year to ₹705 crore from ₹535.3 crore, while EBITDA increased 30.4% to ₹438 crore from ₹336 crore. The company’s EBITDA margin also improved to 64.04% from 62.7% in the corresponding quarter last year. Operationally, WeWork India expanded its network to 79 centres across eight cities, with 9.1 million square feet of operational space.
Its total committed footprint stood at 12 million square feet, including signed leases and letters of intent. During the quarter, the company added around 7,000 desks, taking its operational capacity to 133,600 desks, up 17.1% year-on-year.