Friday, 24 March, 2023

Oyo may reduce the size of its IPO, as well as revise value

<p>Oyo Hotels &amp; Homes are planning to reduce the size of the IPO&nbsp;in light of weak secondary market conditions and a drop in the stock prices of new-age digitalization. The IPO issue size is projected to be much lower than $1B, despite Oyo&#39;s intention to raise $1.2B in its initial IPO documents filed with the markets regulator. If Oyo reduces the primary offer, or new issuance of shares, by more than 20%, it may need to file a new draft red herring prospectus(DRHP) with the Sebi.<br /> &nbsp;</p>