Oravel Stays Limited, the parent company of Indian hospitality major Oyo, has received in-principle approval from both BSE and NSE stock exchanges to list, per media reports.
Oyo had filed its Draft Red Herring Prospectus (DRHP) with the market regulator Securities & Exchange Board of India (SEBI) in September last year to raise Rs8,430 crore ($1.12 billion) through an initial public offering (IPO). The offer will comprise a primary issuance of Rs7,000 crore and an offer-for-sale worth Rs 1,430 crore.
