WeWork India IPO gets SEBI nod; entire issue to be OFS

WeWork India Management Limited has received approval from the Securities Exchange Board of India (SEBI) to float its Initial Public Offering. The IPO will be a pure offer for sale (OFS) of up to 4.37 crore equity shares, enabling a partial exit opportunity for its promoter and existing investor.

According to its Draft Red Herring Prospectus, Embassy Buildcon LLP, the promoter entity, will offload 3.34 crore shares. At the same time, 1 Ariel Way Tenant, an affiliate of WeWork…