WeWork India has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to raise funds through an initial public offering
The IPO will only comprise an offer-for-sale of up to 4.3 Cr (43,753,952) equity shares with a face value of INR 10 each
The book-running lead managers for the public issue are JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company, and 360 ONE WAM
Coworking major WeWork India has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO will only comprise an offer-for-sale of up to 4.3 Cr (43,753,952) equity shares with a face value of INR 10 each. Out of these, promoter group Embassy Buildcon LLP will sell 3.34 Cr shares, while one of its investors, Ariel Way Tenant, will offload 1.02 Cr shares.
“The proceeds from the OFS will be transferred to each of the selling shareholders in proportion to the respective portion of the offered shares transferred by each of them in the offer-for-sale (after deducting applicable offer-related expenses and taxes) and will not result in any creation of value for us or in respect of your investment in our company,” it said in the draft IPO papers.
The book-running lead managers for the public issue are JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital Company, and 360 ONE WAM.
The company is not planning a pre-IPO placement before the listing in bourses.
