If you are waiting for the IPO of the hospitality sector company OYO, then this news is for you. Actually, Oyo is considering reducing the size of its IPO. This has been told in a Bloomberg report.
What is the plan According to the report, Oyo is once again churning its IPO due to the war between Russia and Ukraine and the worsening situation due to inflation. It is possible that the company may reduce the size of the IPO by 50 per cent. Earlier, there was a plan to bring an IPO of about $ 1 billion, which can be reduced in size to $ 500 million. Apart from this, Oyo may also decide to postpone its IPO plans.
Sources said that none of the deliberations related to OYO’s IPO have progressed to formal discussion or approval at the board level. Oyo representatives declined to comment on the issue. Let us tell you that OYO had submitted an application to market regulator SEBI last year to launch an IPO.
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OYO has applied for an IPO of Rs 8,430 crore. The offer includes a fresh issue of Rs 7,000 crore and an Offer for Sale (OFS) of up to Rs 1,430 crore. There is also a truth that due to the recent fall in the market, the shares of many recently listed tech companies were badly beaten. Due to this, the enthusiasm of investors about such companies has cooled down a bit.