Supreme Court Dismisses Plea Against Wework India IPO

The Supreme Court of India on January 31, 2026, dismissed a Special Leave Petition challenging the Initial Public Offering (IPO) of WeWork India at the admission stage, effectively upholding an earlier ruling of the Bombay High Court.

A bench comprising Justices P. S. Narasimha and Alok Aradhe declined to interfere with the High Court’s December 1, 2025, judgment, which had rejected separate writ petitions filed by Hemant Kulshreshta and Vinay Bansal opposing the company’s public offering.

Petition Challenged Disclosures in Offer Documents

The appeal before the apex court was filed by Hemant Kulshreshta. Senior advocate Mukul Rohatgi, appearing for the petitioner, argued that the company had allegedly failed to disclose certain criminal proceedings involving its promoters in the IPO offer documents.

However, senior advocate Darius Khambata, representing WeWork India, submitted that the Securities and Exchange Board of India (SEBI), as the statutory regulator and expert authority, had already reviewed and approved the offer documents. After hearing the submissions from both sides, the Supreme Court dismissed the petition.

High Court Had Earlier Rejected Pleas, Imposed Costs

In its earlier order, the Bombay High Court had dismissed the writ petitions and imposed costs of ₹1 lakh on Vinay Bansal. The court noted that key material facts, including the company’s responses to the complaints forming the basis of the challenge, had not been disclosed before it.

The court also observed that the conduct of the petitioners raised questions about their bona fides.

Court records show that the petitions were filed on September 30, 2025, just days before the IPO opened, even though the draft prospectus had been publicly available for several months. The court further noted that neither of the petitioners was an investor in the offering.

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Separate Plea Withdrawn After IPO Closure

A separate petition filed by Rishab Agarwal after the closure of the IPO was later withdrawn unconditionally before the Bombay High Court, without seeking permission to file a fresh plea.

That petition relied on complaints made by Sterling and Wilson Renewable Energy Limited, which is currently involved in separate commercial litigation with a company belonging to the Embassy Group.

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