Just days before its much-awaited IPO launch, WeWork India has found itself in the courtroom instead of the stock market, with a retail investor petitioning the Bombay High Court alleging serious lapses in disclosures and SEBI’s failure to act.

The plea filed by Vinay Bansal, who claims to be a regular retail investor, has sought the court’s direction to the Securities and Exchange Board of India (SEBI) to perform its statutory duty by acting upon the petitioner’s complaints regarding the Draft Red Herring Prospectus (DRHP) of WeWork India.

It also seeks the court’s intervention to halt the Initial Public Offer (IPO) of WeWork India until SEBI decides on the complaint filed against the retail giant.

“The DRHP contains material non-disclosures and misleading statements, particularly the

See Full Page