Oyo’s parent company, Oravel Stays Private Limited, submitted fresh documents to SEBI revealing that while its storefronts are key revenue drivers, employee benefits and marketing expenses are its major expenses.
The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday urged the Securities and Exchange Board of India (SEBI) to call off online hospitality major Oyo s initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years. FHRAI cautioned that Oyo s IPO will allegedly wipe out public wealth while enriching its founders and key management. As per reports, Oyo incurred losses of Rs 3943.84 crore in FY20-21, translating to a