Overview

• On June 4, SEBI removed its hold on the draft papers for WeWork India Management Ltd.’s IPO after they had been under abeyance since late March.
• The market regulator continues to review the offer-for-sale filing and has yet to issue final observations or approval.
• Promoters Embassy Buildcon LLP and WeWork affiliate 1 Ariel Way Tenant Ltd. plan to offload up to 4.4 crore shares through the IPO.
• Under the pure offer-for-sale structure, WeWork India will not receive any proceeds from the share sale.
• SEBI did not specify its initial concerns, though reports have linked the delay to a legal case against a former Embassy Office Parks REIT executive.