HC rejects plea challenging WeWork IPO, fines petitioner ₹1 lakh
The Bombay High Court has rejected two pleas challenging WeWork India's IPO. While one petition was dismissed without a cost, another petitioner was ordered to pay ₹1 lakh. The petitioners questioned SEBI's approval of the IPO, saying WeWork's losses, criminal proceedings involving promoters and the issue being a full offer-for-sale posed an "unprecedented" risk for investors.