WeWork India addresses InGovern’s IPO compliance report
WeWork India Management has responded to governance concerns highlighted in a Governance Watch report from InGovern. Following this, InGovern issued an addendum that included the company’s clarifications. The clarifications cover various issues related to the company’s recent initial public offering (IPO), including its structure, financial eligibility, internal controls, and legal matters involving promoters. In response to concerns regarding the IPO being completely an Offer for Sale (OFS) without new capital, WeWork India emphasized its ability to generate enough free cash flow and EBITDA to support operations and growth. The company noted a promoter investment of Rs 5,012.81 million through a…
