The announcement by the company comes amid the ongoing probe by market regulator Sebi against its promoters for alleged fund diversion. Last week, the company announced constituting of independent advisory panel to curb erosion of its investor wealth in the wake of speculations leading to negative public opinion of the company.
"With respect to demat accounts, it has been decided to extend the last date for submission of 'choice of nomination' to December 31, 2023," Sebi said in a circular.
They have been approaching the influencers with a business-proposition of giving a platform to sell stock ideas. It is to be noted that Sebi regulations allow only registered research analysts (RAs) to give investing advice.
Oyo, which refiled its draft red herring prospectus (DRHP) with the SEBI under the recently introduced pre-filing route in March 2023, was sitting on a cash reserve of around Rs 2,700 crore, according to the presentation.