Saturday, April 13, 2024
Home News OYO pre-files draft paper for IPO; likely to list around Diwali: Report

OYO pre-files draft paper for IPO; likely to list around Diwali: Report


According to sources, Oravel Stays, which owns and operates Oyo, pre-filed its draft red herring prospectus with stock market regulator Sebi on Friday.

PTI was informed by sources close to the company that Oyo may launch its IPO around Diwali this year.

In contrast to the standard procedure, which requires companies to launch an IPO within a year of SEBI’s approval or final observation; An IPO can be issued under the pre-filing method within 18 months of the date of SEBI’s final comment.

Up until the Updated Draft Red Herring Prospectus (UDRHP) stage, this route also offers the flexibility to change the size of the primary issue by up to 50%.

A source stated, “Markets remain highly volatile globally and to some extent in India as well,” in support of the decision to file through pre-filing. Oyo will benefit from filing through the pre-filing route. The timing will be more flexible. The issue size, which will now be the primary issue to repay the majority of its debt, will be fixed between USD 400 and 600 million, depending on market conditions. There is a problem with the SEBI approval timing, which is probably around Diwali.

OYO’s last accommodation before the Protections and Trade Leading body of India (SEBI) in November 2022 was of its refreshed monetary outcomes for the main portion of the monetary year 2022-23, which professed to illuminate expected financial backers about material development. must be aware. its business performance since its initial September 2021 IPO filing.

“The company expects an adjusted EBITDA of around Rs 800 crore in FY2024, i.e. the next financial year,” the company’s founder, Ritesh Agarwal, stated during a town hall for employees on Monday. Keep doing business in a cost-effective manner.

We anticipate using very little of our current cash balance, which is approximately Rs 2,700 crore, for operations. Our cash flows have improved, and over time, our reliance on funding from outside sources has decreased.

Additionally, he mentioned that the company’s performance can be attributed to synergies in its European vacation home business as well as ongoing growth and contextual optimization in India, Indonesia, the United States, and the United Kingdom.

On September 20, 2021, OYO filed preliminary documents with SEBI for an IPO of Rs 8,430 crore, which included an offer for sale of Rs 1,430 crore and a fresh issue of equity shares of up to Rs 7,000 crore.


Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...


Please enter your comment!
Please enter your name here


Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments