WeWork India IPO: Bombay HC Dismisses Petitions Against SEBI's Approval

The Bombay High Court has dismissed petitions challenging the Securities and Exchange Board of India's (SEBI) approval of WeWork India's initial public offering (IPO), as per Bar and Bench report.  

The decision provides relief to the coworking space provider amidst allegations of financial misrepresentation. 

Petitions Against WeWork India's IPO 

As per the report, on October 3, 2025, the Bombay High Court, led by Justice RI Chagla and Justice Farhan A Dubash, dismissed petitions filed against SEBI's approval of WeWork India's IPO.  

The primary petitioner, Vinay Bansal, alleged that WeWork India reported significant losses and a negative net worth while presenting an overly optimistic growth outlook. He claimed the company failed to disclose associated risks adequately. 

Bansal also accused WeWork India of withholding critical information regarding ongoing complaints and disputes, including a 2014 Central Bureau of Investigation (CBI) chargesheet for corruption and Enforcement Directorate (ED) proceedings under the Prevention of Money Laundering Act (PMLA).  

The Economic Offences Wing (EOW) chargesheet from November 2024 was allegedly omitted from the January 2025 draft red herring prospectus (DRHP) and added only in August 2025 after the petitioner raised the issue. 

Allegations of Misrepresentation 

The petition further claimed that WeWork India misrepresented its ties with the global WeWork brand, misleading investors to assume financial backing from the US-based parent firm. It was alleged that the company operates under a management licence, valid only while the promoters maintain control, and does not own the 'WeWork' trademark. 

Another petitioner, Hemant Kulshreshtha, argued that the company disclosed only a “lesser offence but not a higher offence”, suggesting that investors should not be expected to uncover such omissions. 

WeWork India's IPO Details 

WeWork India's ₹3,000 crore IPO opened for subscription on October 3, 2025, and closed on October 7. The shares, priced between ₹615 and ₹648, listed at ₹650 on the NSE and ₹646.50 on the BSE on October 10.  

The IPO comprised an offer for sale of 4.63 crore shares with no fresh issue, meaning the company received no new funds from the offering as existing shareholders sold their stakes. 

Read More: Upcoming IPOs This Week (Dec 1- Dec 5): 3 Mainboard IPO, Including Meesho IPO and 11 SME Set to Open! 

Wework India Management Share Price Performance  

As of December 1, 2025, at 3:30 PM, Wework India Management share price closed at ₹588.80 down by 1.60% from the previous closing price. 

Conclusion 

The Bombay High Court's dismissal of the petitions against SEBI's approval of WeWork India's IPO underscores the court's stance on the allegations of financial misrepresentation. The decision allows WeWork India to proceed with its public offering, despite the concerns raised by the petitioners. 

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