WeWork India Gets SEBI Nod For IPO

Coworking space giant WeWork India Management has secured approval from the capital markets regulator SEBI to launch its market debut.

WeWork’s initial public offering (IPO) will comprise solely an offer-for-sale (OFS) component of up to 4.4 Cr equity shares. Out of these, the company’s parent entity Embassy Buildon LLP will offload 3.3 Cr shares and the rest of the equity shares will be diluted by WeWork’s affiliate 1 Ariel Way Tenant Limited.

WeWork has onboarded JM Financial Limited, ICICI Securities Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited and 360 ONE WAM Limited as the book running lead managers to helm the public listing.

WeWork India filed its DRHP with the capital markets regulator in February. However,SEBI put a temporary hold on the company’s document for unknown reasons.

A few days back, SEBI started revaluating the company’s documents.

(The story will be updated soon.)

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