Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Pranav Bhavsar & the team at India Independent Insight (Iii), provide research on consumer companies operating or have exposure to in India. The research methodology focuses on carrying out on-the-ground channel surveillance/checks that include supplier/distributor/customer interactions, access to industry experts, and bespoke primary data sources that aid in providing unique insights and counter consensus ideas.  

Leveraging the team's forensic analysis along with channel surveillance, the team at Iii also aids investors in early identification of changing consumer trends, identification and quantification of accounting/governance risks, and the associated impact on the business model of the company.

Pranav has over 15 years of experience in the Indian equity market, and has worked with some of the global activists, long only and PE funds for their India projects. Prior roles also include building and leading an institutional sell-side desk. In his free time, Pranav is a traveler, biker, and a young Indian contributing to the country’s social and economic development.

Consumer Analyst / Channel Surveillance Specialist

WeWork India - IPO Review: A Premium Flex Space Player with Strong Promoter Backing

WeWork India Pre-IPO - Lease Mismatch and Structural Strains

WeWork India Pre-IPO - Enterprise-Led, Promising Metrics

WeWork India Management Ltd Pre-IPO Tearsheet

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

Equity Capital Markets

WeWork India Management Ltd / Equity Capital Markets

WeWork India Management Ltd (1690124D IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/wework-india-management-ltd" target="_blank" data-smartkarma-citation="entities:44329:1" rel="noopener">WeWork India Management Ltd (1690124D IN)</a> IPO is an OFS under SEBI Regulation 6(2), reflecting weak financial eligibility, ongoing losses, and dependence on deferred tax credits for reported profitability.</li>
<li>Promoter and governance risks loom large, with pending ED, CBI, and EOW proceedings against Jitendra and Karan Virwani, plus complaints of incomplete or misleading disclosures in filings.</li>
<li>The IPO mainly serves as a deleveraging tool for the promoter, with pledged shares, heavy audit qualifications, weak controls, and depleting cash exposing material investor risks.</li>
</ul>



WeWork India Management Ltd (1690124D IN) IPO is an OFS under SEBI Regulation 6(2), reflecting weak financial eligibility, ongoing losses, and dependence on deferred tax credits for reported profitability.
Promoter and governance risks loom large, with pending ED, CBI, and EOW proceedings against Jitendra and Karan Virwani, plus complaints of incomplete or misleading disclosures in filings.
The IPO mainly serves as a deleveraging tool for the promoter, with pledged shares, heavy audit qualifications, weak controls, and depleting cash exposing material investor risks.


WeWork India Management Ltd - IPO | Red Flags Galore