Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
WeWork India IPO gets SEBI nod; entire issue to be OFS
WeWork India's IPO has received SEBI's (Securities and Exchange Board of India) nod, with the entire issue structured as an Offer for Sale (OFS). This approval marks a crucial step for the flexible workspace provider to list on the stock exchanges. As an OFS, existing shareholders, primarily Embassy Buildcon LLP and 1 Ariel Way Tenant Limited, will sell their shares, meaning the company itself will not raise fresh capital. This allows current investors to monetize their holdings and provides liquidity in the market.