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There will be delay in bringing IPO of OYO, plan to launch IPO in the market may hang for 3 months

OYO IPO: The IPO of Oyo, a big company in the hospitality sector, can come late by a quarter i.e. 3 months and the reason behind this is big. Market regulator Securities and Exchange Board of India (SEBI) has asked the OYO company to provide additional information in its draft red hearing prospectus. In this, SEBI has asked the company to give information about updated risk factors, pending litigation etc. on the basis of valuation.

Earlier there was a plan to bring IPO in the first half of 2023

OYO’s IPO of the first company year 2023 There was a plan to bring in the first half, although now the company may take an additional 3 months for the updated filing. A source close to the company said that we have to take care of the investors that they get a chance to invest in Oyo’s IPO only according to the latest updates. For this, we have been told that the latest information should be put forward only during the pre-IPO phase. This would be the most appropriate thing to do. Because of this, there can be a delay of 2-3 months in bringing the IPO. However, in this process we will be able to show Ebitda profit for the whole year.

Oyo adds additional information to its DRHP

Oyo recently added a fact to its DRHP, according to which it was said that investors should be aware of how much the company’s profits have increased since September 2021 after its IPO application. For this, Oyo included the economic data of the first half of the financial year 2022-23 in its DRHP.

SEBI sent letter to OYO, gave these instructions

In this information, the company has shown an EBITDA of Rs 63 crore, year-on-year revenue growth of 24 per cent and monthly booking value of 69 per cent. This value was shown for the company’s hotels for the first half of FY2023. Therefore, now SEBI has asked the company to give its other information in the same order. SEBI has said in its letter sent to Oyo that the way the company has added new profit and new revenue, similarly its risk factors should also be shown on the basis of offer price. In this episode, the company should also provide information about its outstanding lawsuits and other sections.

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Before bringing any IPO, companies should follow complete transparency and give all the necessary information, this step of SEBI shows the same commitment. Earlier, SEBI has directed companies to give more information about KPI’s before IPO pricing.


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