Hospitality major OYO plans to fire 600 employees across its technology and product teams and hire 250 to its business management teams, the company has confirmed in a statement on Saturday.
Zostel alleged that OYO has misrepresented the facts in its DRHP and that its upcoming IPO doesn't include the disclosure of a 7 per cent stake of Zostel's shareholders in OYO's parent entity.
Zostel alleged that OYO has misrepresented the facts in its DRHP and that its upcoming IPO doesn't include the disclosure of a 7 per cent stake of Zostel's shareholders in OYO's parent entity.
As part of the IPO, Oyo will have Rs 7,000 crore worth of fresh issue. In addition, its existing investors will offload their stakes worth Rs 1,430 crore in the company