Sebi has removed the IPO papers of flexible workspace operator WeWork India out of abeyance and is now processing the offer document, an update with the regulator showed.
Sebi had put the IPO in abeyance in March. The company submitted the DRHP in February.
The proposed issue comprises an offer for sale (OFS) of up to 43 million equity shares. Promoter Embassy Buildcon will sell 33 million shares and investor 1 Ariel Way Tenant will offload 10 million.
The Embassy Group holds a 72.4% stake in WeWork India while Ariel Way Tenant holds 22.28%. They are disposing of a total of 25% holding via the IPO.
Meanwhile, five companies – Rite Water Solutions, Veeda Clinical Research, LCC Projects, Shringar House of Mangalsutra and Seedworks International – have received Sebi’s go-ahead to raise fund through IPOs.