WeWork India has secured a decisive legal victory with the Bombay High Court disposing of the final writ petition challenging its Initial Public Offering (IPO). The petition, filed by Rishab Agarwal, was unconditionally withdrawn, and the Court granted no liberty to refile. This marks the conclusion of a series of coordinated petitions that had sought to cast doubt on the company’s disclosures.
Earlier, petitions filed by Vinay Bansal and Hemant Kulshrestha were dismissed by the Court in December 2025, which upheld the adequacy of WeWork India’s disclosures under SEBI’s ICDR Regulations. In its ruling, the Court imposed costs on one petitioner and noted suppression of material facts, questioning the bona fides of the challenges.
Agarwal’s petition, served in October 2025, was premised on allegations linked to complaints filed by Sterling and Wilson Renewable Energy Limited, itself engaged in litigation against another Embassy Group company. The timing and similarity of these petitions suggested a pattern of orchestrated legal harassment aimed at creating uncertainty around WeWork India’s business.
Despite these attempts, WeWork India’s IPO was oversubscribed and has maintained stable market performance, underscoring investor confidence in the company’s governance and transparency. The resolution of all three petitions reaffirms the integrity of India’s securities regulatory framework and sends a strong message against misuse of judicial processes for extraneous commercial purposes.
Commenting on the development, WeWork India stated that it remains committed to the highest standards of corporate governance and transparency, and will continue to focus on delivering sustained value for shareholders.
