Fertility clinic chain Indira IVF Hospital’s IPO papers were filed through the confidential route. A confidential pre-filing route allows the company to withhold public disclosure of details under the DRHP. Further, pre-filing DRHP does not guarantee the company will go ahead with the IPO.
WeWork, which filed DRHP in February, planned to offer 4.3 crore shares under the OFS route. As per the DRHP, Embassy Buildcon offered to sell up to 3.3 crore shares, while Ariel Way Tenant, through which WeWork Inc holds stake in the Indian company, is seeking to offer about 1 crore shares.
Founded in 2017, the Embassy Group holds a 72.4% stake in WeWork India, while Ariel Way Tenant holds 22.28%.
The company benefits from being part of WeWork Global, a flexible office space provider with about 600 wholly owned and licensed locations in 35 countries.
As of March 2024, WeWork India recorded the highest EBITDA among benchmarked operators, the company said in the DRHP. In fiscal 2024, its operating income rose 26% to Rs 1,661.6 crore from Rs 1,314 crore the previous year. Operating profit before depreciation, interest and tax improved to 63.1% in FY24 from 60.7%, it said.As of the first half of the calendar year 2024, WeWork India achieved an average revenue-to-rent multiple of 2.7, surpassing the industry average, as per the DRHP. Currently, 93% of its portfolio (by area) consists of Grade-A developments, with over 85% of its stock located in 23 key clusters identified for flexible workspaces across the country, the document said.On the other hand, Sebi returned the draft IPO papers of Agriwarehousing and Collateral Management Ltd, a tech-driven agricultural services firm, on March 19.
The company’s proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 450 crore and an Offer-For-Sale (OFS) component of 2.69 crore equity shares by promoters and an investor, according to the draft papers filed in December.
