Reject OYO's DRHP and suspend its ₹8,430 crore IPO: Zostel to SEBI

Zostel (ZO Rooms) has filed a complaint with SEBI requesting it to reject OYO's DRHP and suspend its proposed ₹8,430 crore IPO. Zostel has said that OYO's IPO is "non-maintainable" as its parent firm Oravel's capital structure is not final. "The DRHP is replete with material omissions and blatant misstatements, intended to mislead the public," Zostel wrote in its letter.