Sebi returns OYO's draft IPO papers; asks to refile with updates
Capital markets regulator Sebi has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates.
The move might delay the Gurugram-based hospitality unicorn’s initial public offering (IPO).
The proposed offering consists of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.
According to an update with Sebi’s website on Tuesday, the markets regulator returned the company’s draft red herring prospectus (DRHP) on December 30, 2022 and asked the firm to refile it with applicable updates/ revisions. However, the regulator has not elaborated on the updates or revisions required in the draft documents.
