WeWork India Management Limited has officially launched its comprehensive Design & Build platform 'Rivet', marking a strategic expansion into India's commercial office construction sector. The company announced the appointment of Arnav S Gusain as CEO of Rivet, alongside his continuing role as Chief Supply Officer at WeWork India.

Platform Launch and Market Positioning

Rivet debuts as an end-to-end design and build platform specifically targeting enterprises and end-users in India's rapidly expanding office market. The platform addresses the fragmented nature of the traditional Design & Build ecosystem by offering unified accountability and single-contract delivery from concept to commissioning. India's office market recorded gross leasing activity of 83.3 million sq. ft. in 2025, highlighting the significant opportunity for integrated workspace solutions.

Leadership and Strategic Vision

Arnav S Gusain's elevation to CEO of Rivet demonstrates WeWork India's commitment to establishing strong leadership for this new vertical. With over three decades of experience in real estate and workspace ecosystems, Gusain brings deep domain expertise to drive the platform's growth phase. Karan Virwani, Managing Director & CEO of WeWork India, emphasized that Rivet leverages the company's experience in designing, evaluating, and operating over 8.2 million square feet across markets.

Project Portfolio and Financial Performance

Rivet has already completed significant projects demonstrating its execution capabilities. The platform has successfully delivered workspace solutions for notable clients including a global leader in agricultural equipment and smart farming solutions, One World Centre, and Embassy One (EMBARK/Embassy Group HQ). These completed projects represent substantial scale and value in the commercial workspace sector.

Technology and Sustainability Integration

Rivet's delivery model incorporates technology-enabled systems providing real-time visibility into timelines, cost structures, and project milestones. The platform utilizes BIM-led planning, real-time site monitoring, and structured financial governance to ensure transparency and execution certainty. Sustainability is embedded from the outset, with durable materials, efficient layouts, and eco-conscious design choices that enhance longevity while minimizing waste.

Market Expansion Strategy

The launch of Rivet represents WeWork India's evolution from a flexible workspace operator into a comprehensive workspace-as-a-service platform. The company currently operates across 8 cities with over 1.21 lakh desks and 73 operational centres spanning 8.2 million square feet. This expansion into design and build services creates a connected ecosystem that removes friction points for enterprises scaling their operations, advancing WeWork India's vision to become a comprehensive infrastructure-as-a-service platform.

WeWork India Management has disclosed the creation of a significant pledge on its equity shares under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations 2011. Embassy Buildcon LLP has pledged a substantial portion of its shareholding in the company as security for debentures worth Rs. 577.50 crores.

Pledge Details and Structure

The pledge involves 2,41,03,489 equity shares of WeWork India Management Limited, representing 17.98% of the company's total share capital. These shares have been pledged in favour of Catalyst Trusteeship Limited, which is acting as the debenture trustee on behalf of debenture holders.

Debenture Transaction Background

The pledge serves as security for unrated, unlisted, secured, redeemable, non-convertible debentures issued by Serenesummit Realty Private Limited. The debentures carry an aggregate nominal value of Rs. 577,50,00,000 (Rupees Five Hundred Seventy-Seven Crore and Fifty Lakh).

Company's Share Capital Structure

WeWork India Management Limited's equity share capital remains unchanged following this pledge creation. The company maintains its total equity share capital at Rs. 134,02,32,590, comprising 13,40,23,259 shares with a face value of Rs. 10.00 each.

Regulatory Compliance and Disclosure

The disclosure was made pursuant to Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Catalyst Trusteeship Limited, through its Senior Vice President Deesha Srikkanth, filed the necessary documentation with both BSE Limited and National Stock Exchange of India Limited on March 2, 2026.

Under the transaction documents, the pledgor has undertaken certain covenants that constitute 'encumbrance' as defined under SEBI SAST Regulations. The pledge represents a significant encumbrance on WeWork India Management Limited's equity shares, though it does not involve any transfer of voting rights or change in the company's shareholding pattern beyond the creation of security interest.