Top hotel industry body wants SEBI to cancel Oyo's IPO
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
Source: indiatvnews.com