OYO IPO Update: Online hotel booking platform OYO (OYO) is going to bring its IPO (OYO IPO) soon. Now big news is coming about this IPO. The company has decided to reduce the size of its Initial Public Offer (IPO). About two-thirds will be cut in this IPO. According to Money Control’s report, the company will file the draft paper (OYO IPO) for its IPO by this week. Under this IPO, the company will sell only one-third of the fresh shares. This will reduce the amount received by the company. Earlier, in September 2021, Oyo had submitted its documents to the Securities and Exchange Board of India (SEBI) for its IPO. After this SEBI had asked Oyo to file again for the IPO with more details.
Why the IPO size was reduced?
OYO to file for second IPO
Shares will not be sold through OFS
According to the report published in Money Control, the shares of the investors of the company will not be sold through Offer For Sale. Soft Bank holds half a percent of the company’s shares. Oyo’s December quarter results were extremely weak. In such a situation, the company had announced that it would lay off about 600 employees in the corporate and tech department.
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