OYO is the most used and also most rated hotel room in India OYO indulged in marketing its rooms and its management as well online earlier this month and announced its IPO as well. Although the IPO was announced there isn’t any source that has until now announced the precise date of the IPOs that has been made public. Likewise, there are other details about the cancellation of the IPO of OYO as well which we will discuss further. Earlier OYO was a single hotel that was later established into multiples and this is a massive business now. Stay tuned as we are here disusing the IPO of OYO and also why the work is stuck in middle. Follow Our website TheGossipsWorld Media for the latest updates!!!!!
OYO IPO Price
In 2012 the OYOs came into existence when people were made aware of rooms that they can afford at cheaper rates and also nearby them. Orval stays was the name of the OYO rooms that were established earlier. One of the entrepreneurs from India initiated this business and he is now the boss of OYO rooms. This idea is a chain hotel room idea that was initiated by the founder of Oyo rooms named Ritesh Agarwal who initiated this idea in 2011. Ritesh noticed how the quality and the price don’t match and the price range was much higher in the hotel rooms of India when he bought the hotel chain idea and gained around 4.1 billion dollars of funding.
OYO IPO Share
Until 2021 its billions of funds were sanctioned by some of the notable names from the market such as Softbank Group, Greenoak capital, Sewuoia capital, and Light speed India as well. In the past ten years, the business of Oyo has expanded exponentially and it is spread not only in India but also in various foreign countries like the USA, Japanese states, South East Asia, and European states as well. The DRHP sanctioned by OYO in public issues is about 1,430 crores and the equity share is about 7000 crores, and as now the IPO was getting launched there was an offer of equity share worth rupees 1,430 in an offer of sale.
OYO IPO Issue Size
As there is an IPO given out by the company there are certain shareholder segments given out as well. these are the certain book-running lead managers of the IPO enlisted, ICICI Securities Limited, Kotak Mahindra Capital company limited, JM Financial Limited, Citigroup Global Markets India PVT LMTD, JP Morgan India Private Limited, Deutsche Equities India private limited, Nomura Financial Advisory and Securities India Private Limited. Although the dates of bookings are not opened until now there has not been any update from the company as well. The issue size mentioned by the company is 8,430 crores in Rupees and the face value per equity share is 1 rupee.
OYO IPO Listing Date
Now speaking about why there is a delay in the date listing of OYO IPO, it is been said that the federation of hotel and restaurant association of India has written to SEBI about the IPO allotments by OYO and it was mentioned that they imposed a penalty of Competition commission penalty on OYO worth rupees 392 crores. These were issues on companies like OYO, GO Ibibo, and Make My trip as well and they were accused guilty of indulging in anti-competitive practices as well. The case is getting checked up on by the officials and there is no report yet about it.