OYO versus Zostel: SoftBank-backed hospitality giant refutes allegations
Shortpedia
Content Team
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OYO's parent firm Oravel Stays has refuted all 'allegations' made by Zostel Hospitality, which had requested the markets regulator SEBI to reject the draft red herring prospectus filed by OYO for its initial public offering. In a letter to the SEBI on October 11, 2021, Zostel had said "the IPO is non-maintainable as Oravel's capital structure is not final" and accordingly "Oravel's filing of the DRHP in the circumstances, is illegal."
