WeWork India Management and Studds Accessories have received SEBI approval to proceed with their IPOs. The companies will raise funds via Offer for Sale (OFS) routes and plan to expand their operational and financial capacities in India and beyond.
The Securities and Exchange Board of India (SEBI), headquartered in Mumbai, Maharashtra, has granted its final observation to two companies—WeWork India Management Pvt. Ltd. and Studds Accessories Ltd.—to move ahead with their respective initial public offerings (IPOs).
WeWork India Management, a subsidiary of the globally renowned WeWork Inc., specialises in providing and managing premium workspaces across India’s top-tier cities including Bengaluru, Mumbai, Pune, Hyderabad, Noida, Gurgaon, Delhi, and Chennai. As of June 30, 2024, approximately 93% of its property portfolio comprised Grade A assets, highlighting its market leadership in the flexible workspace segment.
WeWork India’s IPO will proceed as an Offer for Sale (OFS) of up to 43,753,952 equity shares, which includes 33,458,659 shares from Embassy Buildcon LLP, the promoter, and 10,295,293 shares from 1 Ariel Way Tenant Ltd, an investor shareholder. The book running lead managers include JM Financial, ICICI Securities, Jefferies India, Kotak Mahindra Capital, and 360 ONE WAM.
Meanwhile, Studds Accessories Ltd, a Faridabad, Haryana-based firm, is India’s top helmet manufacturer by revenue (FY2023) and the world’s largest by production volume in 2024, as per a CARE Ratings report. The company exports to over 70 countries and manufactures for international brands like Daytona and O’Neal for distribution in the US, Europe, and Australia.
Studds will also raise funds through an Offer for Sale of up to 7,786,120 equity shares, each with a face value of ₹5. IIFL Capital Services and ICICI Securities will serve as the lead managers for the issue.
Both companies are leveraging the IPO route to strengthen their brand positioning and fuel long-term growth. The exact opening dates of the IPOs are expected to be announced soon following SEBI’s clearance.
