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    Bombay High Court Upholds SEBI’s Approval for WeWork India IPO, Petitioner Directed to Pay ₹1 Lakh

    1 month ago

    Yugcharan News | 1 December 2025

    The Bombay High Court on Monday upheld the Securities and Exchange Board of India’s (SEBI) approval for WeWork India’s initial public offering, dismissing a petition that challenged the regulator’s decision. The order brings relief to the office-space provider as it moves ahead with its public issue plans.

    A division bench of Justice R.I. Chagla and Justice Farhan Parvez Dubash rejected a plea filed by petitioner Vinay Bansal, who had alleged that SEBI cleared the IPO despite supposed gaps in disclosures. According to the petition, the company had not highlighted certain pending cases and other financial concerns.

    Court’s Direction

    The bench not only dismissed the plea but also imposed a cost of ₹1 lakh on the petitioner, directing that the amount be deposited with the Maharashtra Legal Services Authority. A detailed order is awaited.

    In a separate matter, the High Court also turned down another petition by Hemant Kulshrestha, who argued that the firm had not disclosed some legal proceedings. However, in this case, the court did not impose any costs.

    Why the IPO Was Challenged

    The primary petition questioned SEBI’s approval of WeWork India’s Draft Red Herring Prospectus (DRHP) filed on 31 January. It claimed that the document contained irregularities, including omissions related to disputes, financial losses, and the company’s net worth position.
    The petitioner further alleged that the firm projected growth that did not reflect its financial condition and raised concerns about how the company referenced its association with the global WeWork brand.

    With the court dismissing both pleas, WeWork India can continue its IPO preparations as planned.

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