Zostel urges SEBI to probe Oyo IPO's 7% equity claim
Business
Zostel is challenging Oyo's upcoming IPO, saying the company's official documents don't fully or fairly explain their long-running legal fight over a 7% equity claim.
Zostel, in a statement on July 7, said it has approached SEBI, arguing that Oyo's selective disclosures could mislead investors and affect how the IPO is valued.
Zostel seeks SEBI delay Oyo IPO
This all started back in 2015 with a failed acquisition deal between the two companies.
Although an arbitration once sided with Zostel, higher courts later set that aside.
Now, Zostel wants SEBI to push for clearer information and possibly delay Oyo's ₹6,650 crore IPO until everything is sorted out.