India, Feb. 1 -- Coworking major WeWork India has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The IPO will only comprise an offer-for-sale of up to 4.3 Cr (43,753,952) equity shares with a face value of INR 10 each. Out of these, promoter group Embassy Buildcon LLP will sell 3.34 Cr shares, while one of its investors, Ariel Way Tenant, will offload 1.02 Cr shares.

"The proceeds from the OFS will be transferred to each of the selling shareholders in proportion to the respective portion of the offered shares transferred by each of them in the offer-for-sale (after deducting applicable offer-related expenses and taxes) and will not result in ...