MUMBAI: The Bombay High Court on Monday dismissed two writ petitions challenging WeWork India’s Initial Public Offering (IPO). The judgment upholds the regulatory approval granted by the Securities and Exchange Board of India (SEBI).
“High Court of Judicature at Bombay, vide a common order dated December 1, 2025, has dismissed two writ petitions filed by Mr. Vinay Bansal and Mr. Hemant Kulshrestha challenging the approval granted by SEBI for the Company’s Initial Public Offering (“IPO”) as well as alleging inadequacy and incorrectness of the disclosures made in the Company’s IPO Offer Documents,” We Work said in their exchange filing.
According to the Exchange Filing, the disclosures made by the Company in its Offer Documents were true, fair, and adequate; the IPO was permissible and undertaken in compliance with Regulation 6(2) and other applicable provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018; the “fit and proper person” requirement did not apply to the IPO; there was a suppression of material information by one of the petitioners regarding the response provided by the Book Running Lead Managers (“BRLMs”) to the complaint made by him, and the bona fides of both the petitioners were questionable.
In addition, the Court, while dismissing the petitions, further imposed costs of ₹1,00,000/- (Rupees One Lakh only) on Vinay Bansal, payable by him to the Maharashtra State Legal Services Authority.
WeWork India, in its filing to the stock exchanges on December 2, 2025, confirmed the order, stating that the Bombay High Court’s decision “does not have any impact on the operations or financials of the Company”.