FHRAI again urges SEBI to cancel OYO's IPO citing its losses

The Federation of Hotel and Restaurant Associations of India (FHRAI) has again urged SEBI to call off OYO's IPO citing massive losses suffered by the travel-tech firm in recent years. FHRAI said OYO suffered ₹3,943.84 crore loss in FY21. Since its inception in 2013, OYO's total turnover has fallen 69% from ₹13,413 crore in 2020 to ₹4,157 crore in 2021.