Oyo Delays Long-Anticipated India IPO
Skift Take
A humbled Oyo will keep trying for an IPO, but it will have to wait awhile longer.
Oyo requested permission from India regulators to update its IPO prospectus with newer financial results, which means its stock market debut couldn't take place until late 2022 at the earliest, according to a source.
The volatility of global stock markets, the outbreak of the Russia-Ukraine war, a bevy of lackluster IPOs in India, and a travel recovery in India muted by Omicron early in the year certainly contributed to the delay, and the prospect that Oyo wouldn't have received anything near the valuation it sought.
As of this writing, Oyo's Draft Red Herring Prospectus, filed September 30, 2021 was still "in process," according to the Securities and Exchange Board of India's latest filings, but the next move after receiving permission
