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Sebi sends back Oyo's IPO papers
Financial Express Mumbai
|January 04, 2023
Asks travel tech firm to refile with updates & revisions
THE SECURITIES AND Exchange Board of India (Sebi) has asked Oravel Stays, the parent company of travel-tech firm Oyo, to refile the draft papers for its initial public offering (IPO) with applicable updates and revisions.
The offer document was returned to the company with the said advisory on December 30, according to an update on the regulator's website on Tuesday.
The regulator has not elaborated on the kind of additional information it is seeking but may include revisions on basis for valuation, key performance indicators, risk factors and outstanding litigations, according to reports.
This might delay the Gurgaon-headquartered hospitality company's IPO by at least three months.
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