STOCK MARKET BSE NSE

IPO-bound OYO gets listing approval from BSE, NSE 

OYO has filed preliminary documents for a Rs 8,430 crore initial public offering.

Published: 25th January 2022 03:16 PM  |   Last Updated: 25th January 2022 03:16 PM   |  A+A-

OYO Rooms

OYO Hotels (File Photo| PTI)

By PTI

NEW DELHI: Oravel Stays Limited, the parent company of travel-tech firm OYO, has received in-principle approval from BSE and NSE to list on the respective bourses, sources said.

OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO).

The offering will consist 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.

As per documents reviewed by PTI, the company recently received the go-ahead for listing from the National Stock Exchange and BSE.

Bourses typically provides such go ahead at advanced stages of the approval process thus signaling that regulatory path is close to getting cleared for the company to approach for its listing.

The company had filed its Draft Red Herring Prospectus (DRHP) with Securities & Exchange Board of India (SEBI) in September last year and has been in the process of responding to the questions and clarifications sought by the regulators.

Sources told PTI that the SEBI observations are reaching the final stage and the last rounds of observations are expected in about 10 days.

As per process, the company would file the updated draft prospectus in line with the final observations and await approval for the final prospectus which becomes the final document for the company to formally approach public investors.

According to sources, OYO's founder Ritesh Agarwal, who holds 33 per cent stake in the company directly and through his holding company, is not planning to dilute any stake during the IPO process, while Softbank Vision Fund, OYO's largest investor which holds 46 per cent stake in the company, plans to dilute around 2 per cent of his holding.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp