WeWork India Receives Sebi Approval for IPO
NEW DELHI: WeWork India, a provider of flexible workspaces, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The offering will be conducted entirely through an offer for sale (OFS) route, with no new equity issuance as stated in the company’s draft red herring prospectus (DRHP). The IPO includes an OFS of up to 4.37 crore equity shares, each with a face value of ₹10. The selling shareholders, Embassy Buildcon LLP and 1 Ariel Way Tenant, will offload up to 3.34 crore shares and 1.03 crore shares, respectively. Notably, the company…