The Bombay High Court has rejected challenges against WeWork India’s IPO, confirming SEBI’s approval. Petitioner Vinay Bansal has been asked to pay ₹1 lakh in legal costs, while another petitioner, Hemant Kulshrestha, faced no penalty. This clears the way for the IPO to continue without problems.
The petitions claimed that WeWork India did not clearly disclose legal cases against its promoters, including allegations under the Prevention of Money Laundering Act (PMLA) and charges by the CBI and Economic Offences Wing. They also argued that the company had negative net worth and heavy losses, yet projected fast growth, which could mislead investors.
Petitioners also said the company only licenses the WeWork brand instead of owning it and that the IPO mostly allowed promoters to exit, adding risk for public investors.
The court dismissed these concerns, saying SEBI had approved the IPO, meaning disclosure and regulatory requirements were met. With this ruling, the IPO, priced at ₹615–648 per share, continues smoothly.
This decision reassures investors and shows that SEBI-approved IPOs are unlikely to be stopped by court petitions, even if there are ongoing legal issues involving promoters.
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