India’s Zostel asks regulator to decline SoftBank-backed Oyo’s IPO filing

MUMBAI – Indian hospitality start-up Zostel has actually asked the marketplace regulator to turn down an application from SoftBank Group-backed competing Oyo Hotels and Rooms to go public due to a legal tussle in between the companies over an offer that broke down 6 years back.
Zostel stated Oyo’s capital structure was tentative which its draft prospectus submitted with the Securities and Exchange Board of India (SEBI) was “packed with product omissions,” revealed a copy of a letter Zostel sent out to SEBI …
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