Sebi Puts WeWork India's IPO on Hold

Capital markets regulator Sebi has placed We Work India’s IPO in abeyance. The company filed its DRHP in February, planning to offer 4.3 crore shares via the OFS route. Embassy Buildcon aimed to sell up to 3.3 crore shares, while Ariel Way Tenant, holding WeWork Inc’s stake, sought to offer 1 crore shares. Founded in 2017, We Work India is 72.4% owned by Embassy Group and 22.28% by Ariel Way Tenant. In FY24, the company’s operating income rose 26% to ₹1,661.6 crore, with EBITDA margins improving to 63.19%. Meanwhile, Sebi returned Star AgriwareHousing’s IPO papers and Indira IVF Hospital withdrew its draft IPO documents filed through the confidential route.