WeWork India gets Sebi nod for Dalal-Street debut
BENGALURU: WeWork India secured a Sebi nod for its IPO, comprising an offer for sale of up to 43.7 million shares. The listing will not involve any fresh issue of shares, with all proceeds going to existing shareholders.
Promoter Embassy Buildcon will offload 33.4 million shares in the proposed offer, while 1 Ariel Way Tenant, associated with the global WeWork group, will sell 10.2 million shares.
The company had filed draft papers for the IPO in February.
WeWork India is majority-owned by Embassy Group.
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