Petition against WeWork India IPO withdrawn

Rishab Agarwal, the petitioner who moved the Bombay High Court against the WeWork India’s initial public offering, has withdrawn his petition unconditionally before the Bombay High Court on Wednesday. Agarwal had challenged aspects of disclosures in WeWork prospectus, asserting that certain regulatory complaints were not fully reflected in the documents. The court disposed of the writ petition as withdrawn. The matter was listed before a division bench of Justice RI Chagla and Justice Advait Sethna. “Unlike the earlier petitions filed by Vinay Bansal and Hemant Kulshrestha, Agarwal’s challenge was premised entirely on allegations sourced from complaints filed by Sterling and Wilson Renewable Energy, an entity separately engaged in protracted litigation against another Embassy Group company,” said WeWork India spokesperson. Agarwal’s petition alleged that WeWork India and its book-running lead managers of withholding complete SEBI-registered complaints lodged by Sterling and Wilson Renewable Energy. Two similar writ petitions filed previously by Vinay Bansal and Hemant Kulshrestha were dismissed by the Bombay High Court on December 1, declining to interfere with SEBI’s approval of the IPO. A WeWork India spokesperson added that the sequential timing and coordinated nature of the three petitions reveal a pattern of orchestrated legal harassment, designed to manufacture uncertainty around the company’s business. “The resolution of all three petitions reaffirms the integrity of India’s securities regulatory framework and sends a clear message that judicial processes cannot be misused for extraneous commercial purposes,” the spokesperson said. The withdrawal removes an active strand of litigation around the WeWork India IPO disclosure narrative and leaves the High Court’s earlier reasoning as the operative benchmark on these challenges particularly its reaffirmation of SEBI’s approval process. Published on February 12, 2026