Nearly two months after the market regulator returned its draft papers for an initial public offering, Softbank-backed Oravel Stays Pvt. Ltd, which runs Oyo Hotels and Homes, has resubmitted the papers in a confidential pre-filing, two people aware of the development said.
Oyo aims to sell new shares to raise $400 million-$600 million ( ₹3,285 crore- ₹4,927 crore) to repay debt and hopes to list before Diwali, the people cited above said on the condition of anonymity. The company’s existing investors, who had planned to sell some of their shares as per the earlier draft, will not be selling their shares in the IPO.
In November 2022, the Securities and Exchange Board of India (Sebi) allowed so-called confidential filings, which would keep the financial data of companies private in case they choose to call off listing plans. Companies can also adjust the issue size upwards or downwards by 50% and enjoy an 18-month listing window after Sebi approval against the normal 12 months.
Bu hikaye Mint Mumbai dergisinin April 01, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin April 01, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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