Representative image of the people people | Photo Credit: Reuters
SEBI has placed a premium flexible work area in the initial public offer (IPO) of the flexible scope operator Wallork India Management Ltd, shown in an update with the market regulator.
The embassy group-transmitted firm, who filed his draft IPO paper on 31 January, planned to offer 4.37 crore shares through a proposal (OFS) route for sale.
Under OFS, Promoter Embassy Buildcon LLP and Investor 1 Aerial Way Tenant Limited proposed to unload shares according to the draft Red Herring Prospectus (DRHP).
Without specifying the reasons, SEBI stated that according to an update on his website, “release of comments (in observation) has been continued.”
In its draft paper, the company said that the proposal aims to get the benefits of listing equity shares on stock exchanges.
Launched in 2017, WWORK India Management is a major premium flexible scope operator in the country. It provides customers flexible, high quality workspace, including companies of all sizes-big enterprises, small and medium-sized businesses, startups, as well as individuals.
It mainly grades an office space from leading developers in Tier 1 cities and designs, manufacture and operate them as flexible workspaces.
WWORK India has played an important role in the development of flexible scope in India and has contributed a significant contribution in the development of flexible works and services.
JM Financial, ICICI Securities, Jeffers India, Kotak Mahindra Capital Company and 360 One WAM are responsible for the management of public issues.
Published – March 26, 2025 03:36 pm IST
