Skift Take
The run-up to an Oyo IPO is turning out to be a waiting-for-Godot moment. Let's just hope Godot shows up in this version, even if the delay is even a little longer.
The initial public offering of India-based budget hotel operator and aggregator Oyo may be further pushed back from its intended deadline of a launch within the first quarter this year.
India’s capital markets regulatory body, the Securities and Exchange Board of India (SEBI), has now advised Oravel Stays, the parent company of Oyo, to refile the initial public offering draft papers with updates.
The regulatory body on Tuesday said that it has returned Oyo’s draft red herring prospectus on December 30, asking the company to refile with applicable updates.
While the details of the revision have not been specified, the markets regulator has reportedly sought an update on risk factors, key performance indicators, outstanding litigations, basis for valuation and other additional information from Oyo