Rishab Agarwal’s Petition Challenging WeWork India IPO Disclosures Withdrawn Unconditionally

WeWork India IPO Prospectus Petition Withdrawn

A recent development in the Bombay High Court has seen a petition challenging WeWork India's initial public offering (IPO) prospectus withdrawn. The petition was filed by an individual who raised concerns over the company's IPO prospectus, alleging that WeWork India concealed key regulatory complaints.

Background of the Case

• The petition was initially filed in December 2025, with a division bench of Justice R.I. Chagla and Justice Advait Sethna hearing the matter.
• The petitioner argued that WeWork India withheld complaints lodged by certain entities in its IPO prospectus.
• However, the Bombay High Court had earlier dealt with similar objections, clarifying that Regulation 6 (2) of ICDR regulations provides a statutory route for issuers to proceed through book-building with the required institutional allocation.

Key Points from the Court's Order

• The Court noted that the petitioner had sought leave to withdraw the writ petition unconditionally.
• Leave was granted, and the writ petition was disposed of as withdrawn.
• The Court's earlier reasoning remains as the operative benchmark on these challenges, reaffirming SEBI's approval process and the centrality of "true and adequate" material disclosures.

Impact of the Withdrawal

The withdrawal of the petition removes an active strand of litigation around the WeWork India IPO disclosure narrative. It leaves the High Court's earlier reasoning as the operative benchmark on these challenges, particularly its reaffirmation of SEBI's approval process and the centrality of "true and adequate" material disclosures.

Statement from WeWork India

“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”, said a WeWork India Spokesperson.

• February 14: The petition was withdrawn.
• December 2025: The petition was initially filed.