(Corrects to remove incorrect reference to company not disclosing how much it intends to raise)
(Reuters) -India’s markets regulator has approved an initial public offering by WeWork India Management [WEWO.NS], the domestic franchisee of the U.S. shared office space manager, according to a regulatory notice on Tuesday.
WeWork India had filed draft papers for the IPO in early February.
The offer consists of 33 million equity shares held by Indian real estate firm Embassy Group and 10.3 million equity shares held by 1 Ariel Way Tenant. The company will not issue new shares.
WeWork India is controlled by real estate tycoon Jitu Virwani and his son Karan, who own Bengaluru-based developer Embassy Group.
Karan Virwani is also the CEO of WeWork India.
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Sonia Cheema)
