OYO IPO: A hospitality technology company withdraws draft documents in order to refile following financing

backed by Softbank As the pioneer in worldwide travel technology nears completion of refinancing plans to earn up to USD 450 million through the issuing of dollar bonds, OYO is expected to refile its highly anticipated initial public offering (IPO), according to a news report cited by PTI. According to a PT news report that quoted its source, JP Morgan is most likely to be the lead lender for the refinancing through the sale of dollar bonds at an anticipated interest rate of 9 to 10% annually. In ahead of the refinancing, OYO has already applied to the markets regulator SEBI to have its present draft red herring prospectus (DRHP) withdrawn. The business intends to refile an amended version of the DRHP after the bond offering, according to PTI