OYO Pre-Files IPO Paper Confidentially, Slashes Size Of Public Issue To $400-$600 Mn

OYO Pre-Files IPO Paper Confidentially, Slashes Size Of Public Issue To $400-$600 Mn

SUMMARY

OYO has filed the DRHP with SEBI through confidential pre-filing route

The hospitality major will raise $400 Mn-$600 Mn through a primary issuance to repay its debt

This is a major markdown from the INR 8,430 Cr ($1.2 Bn) OYO was looking to raise previously

Three months after markets regulator Securities and Exchange Board of India (SEBI) directed OYO to refile its draft red herring prospectus (DRHP), the hospitality major has filed the documents through the confidential pre-filing route and with a reduced size. 

Sources told Inc42 that the IPO size has been reduced to $400-$600 Mn. The unicorn will raise the funds through issuance of fresh shares to repay its debt. 

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