Bombay High Court disposes final writ against WeWork India's IPO

The Bombay High Court has disposed of the final writ petition challenging WeWork India’s initial public offering (IPO) after the petitioner, Rishab Agarwal, withdrew the plea unconditionally, bringing an end to all legal challenges related to the public issue.

 

The court also disposed of the accompanying interim application seeking amendment of the writ petition, without granting liberty to refile.

 

The development follows the High Court’s earlier judgment dismissing two similar petitions filed by Vinay Bansal and Hemant Kulshrestha, which upheld the adequacy of WeWork India’s disclosures under applicable securities regulations.

 

In its order dated December 1, 2025, the court had validated WeWork India’s compliance with the Securities and Exchange Board of India’s (Sebi’s) Issue of Capital and Disclosure Requirements (ICDR) Regulations, imposed costs of ₹1 lakh on one petitioner, and recorded adverse findings on suppression of material facts, noting conduct that “cast doubts on the bona fides of the petitioners”.

 

Agarwal’s petition, served on WeWork India and the book-running lead managers on October 15, 2025, was based on allegations sourced from complaints filed by Sterling and Wilson Renewable Energy, which is engaged in separate litigation against another Embassy Group company.

 

With all three petitions now resolved, WeWork India said the outcome sends a message that judicial processes cannot be misused for extraneous commercial purposes.