Oyo cancels IPO plans for this year

Oyo cancels IPO plans for this year


The submit Oyo cancels IPO plans for this year appeared first on TD (Travel Daily Media) Travel Daily.

Oyo Hotels is shelving plans for an preliminary public providing (IPO) in 2022 after a market downturn that may harm its valuation, in accordance with a Bloomberg report. If the corporate picks up the method once more by year finish, the earliest chance for an IPO could be in 2023, they stated.

The Gurgaon-headquartered firm, which filed preliminary IPO paperwork final year, is searching for regulatory permission to replace its draft prospectus with recent monetary data after the shut of the September quarter, stated the individuals. Its bankers, led by Kotak Investment Banking, have filed the request with the Securities and Exchange Board of India.

The determination may make Oyo’s IPO a high-profile casualty from a worldwide downturn within the expertise trade. With inflation fears rising, lingering Covid-19 infections and the warfare in Ukraine, traders have roiled markets and pulled again from dangerous investments. The tech-heavy Nasdaq index has tumbled 26% this year.

The submit Oyo cancels IPO plans for this year appeared first on Travel Daily.



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