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IPO-bound Oyo gets in-principle listing approval from BSE, NSE
Oravel Stays Ltd, the parent company of travel-tech firm Oyo, has received in-principle approval from BSE and NSE to list on the respective bourses, sources said. Oyo has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.
As per documents reviewed by PTI, the company recently received the go-ahead for listing from the National Stock Exchange and BSE. The company had filed its Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (Sebi) in September last year and has been in the process of responding to the questions and clarifications sought by the regulators.
Sources told PTI that the Sebi observations are reaching the final stage and the last rounds of observations are expected in about 10 days.