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IPO-bound Oyo files request for exemption with SEBI amid delay in listing

The request is under process according to the posting on SEBI's website, which did not provide details on the type of exemption sought.

March 28, 2022 / 10:10 PM IST
Representative Image

Representative Image

Softbank-backed hotel aggregator Oyo's parent Oravel Stays Limited filed a request for exemption late last month, according to information available on market regulator SEBI's website.

The request is under process according to the posting on the website, which did not provide details on the type of exemption sought.

People familiar with the development told Moneycontrol that Oyo is seeking SEBI's permission to file an updated draft prospectus instead of a new one, as there are material changes since it initially filed for an IPO late last year.

"When a firm files the DRHP, the financials shouldn't be more than six months old. Oyo has also slashed the size of its issue, from the initial over Rs 8,430 crore it sought to file," one of the persons cited above said.