oyo files preliminary documents for ipo with sebi
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Sources associated with the company told PTI that Oyo may bring its initial public offering (IPO) around Diwali this year. Any IPO has to be floated within 12 months after receiving mandatory comments from SEBI through the traditional route.
Oravel Stages, the parent company of hotel booking facility OYO, on Friday filed preliminary documents for the IPO with the Securities and Exchange Board of India (SEBI). Sources gave this information. Sources associated with the company told PTI that Oyo may bring its initial public offering (IPO) around Diwali this year. Any IPO has to be floated within 12 months after receiving mandatory comments from SEBI through the traditional route.
In contrast, the initial-documentation process requires an IPO to be launched within 18 months from the date of the market regulator’s final comment. This option also provides the facility to change the size of the issue up to 50 per cent till the stage of company document being updated. A source said, “… the company can bring the IPO around Diwali after getting the approval of SEBI.” Had deposited This included issuance of fresh shares up to Rs 7,000 crore and offer for sale (OFS) of Rs 1,430 crore.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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