MUMBAI: Capital markets regulator Sebi has asked Oravel Stays, the parent of tech-based travel service provider Oyo, to refile its IPO papers with ‘applicable updates’. On September 30 last year, Oravel Stays had filed papers to go public through an IPO that would be worth a little over Rs 8,400 crore.
According to the latest update on documents related to public offers filed with Sebi, on December 30 last year the markets regulator returned Oyo’s papers and asked it to refile the same with ‘applicable updates/revisions’. Kotak Mahindra Capital is the lead merchant banker to the offer.
Sebi has not given any further details about the scope of the revision and updates it was looking for.
Usually in such cases, the regulator privately communicates to the merchant bankers about the revisions, updates and additional information it was looking for.
