Green Light for WeWork India and Studds Accessories IPOs
WeWork India Management Ltd and Studds Accessories have been approved by Sebi to launch their Initial Public Offerings (IPOs). Both companies' IPOs are structured as an Offer for Sale (OFS), meaning proceeds will benefit only selling shareholders. These will be listed on the BSE and NSE.
- Country:
- India
Sebi has granted approval for initial public offerings (IPOs) from WeWork India Management Ltd and helmets manufacturer Studds Accessories. These approvals allow both companies to proceed with public issues.
WeWork India, backed by the Embassy Group, plans a complete Offer for Sale (OFS) for its IPO, offloading 4.37 crore equity shares through promoter Embassy Buildcon LLP and investor 1 Ariel Way Tenant Ltd.
Likewise, Studds Accessories' IPO will also follow the OFS route, intending to sell 77.9 lakh shares. Both IPOs will benefit the selling shareholders, not the issuing companies, and will be listed on the BSE and NSE.
(With inputs from agencies.)
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