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OYO Prepares for IPO Relaunch with Refinancing Plans Nearing Completion

SUMMARY

OYO, the SoftBank-backed hospitality tech company, is preparing to relaunch its IPO after withdrawing its initial draft application. This relaunch hinges on finalizing their refinancing plans, which involve issuing dollar bonds worth up to $450 million led by JP Morgan.

OYO's financial statements will be significantly impacted by the refinancing, necessitating the filing of a revised draft red herring prospectus (DRHP) with SEBI after the bond issuance is complete. This aligns with Indian regulations for companies going public.

SoftBank-backed hospitality tech giant OYO is gearing up for a renewed push towards its initial public offering (IPO). Here's a breakdown of the key developments:

IPO Relaunch and Refinancing:

OYO is reportedly close to finalizing its refinancing plans, paving the way for a relaunch of its IPO efforts.
The company is aiming to raise up to $450 million through the sale of dollar bonds.
JP Morgan is expected to lead the refinancing process, with the bonds carrying an estimated interest rate of 9-10% per annum.

Impact on IPO Filing:

OYO has already withdrawn its existing draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).
The refinancing will significantly impact OYO's financial statements, necessitating the filing of an updated DRHP after the bond issuance is complete.
This requirement aligns with existing regulations for public listings in India.