WeWork India gets Sebi nod for IPO; Embassy to sell stake
WeWork India Management, the country’s largest premium flexible workspace operator by revenue, has received approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering.
The IPO will be entirely an offer for sale (OFS) of up to 43.75 million equity shares, according to the draft red herring prospectus. Embassy Buildcon LLP, the promoter, plans to offload up to 33.46 million shares, while investor 1 Ariel Way Tenant will sell up to 10.29 million shares.
