The company has already received in-principle approval from Bombay Stock Exchange as well as National Stock Exchange, the sources added

Softbank-backed Oyo is all set to file a revised draft document with the markets regulator SEBI as it moves ahead with its Rs 8,430-crore initial public offering, according to sources privy to the development.


The company has already received in-principle approval from Bombay Stock Exchange as well as National Stock Exchange, the sources added.

Oyo's move to file a revised prospectus comes amid questions on whether it will be able to go ahead with a listing in the current environment. Stocks of loss making internet companies have seen intense selling pressure in India and the US, as investors turn cautious.

Shares of Zomato plunged to its lowest level since its blockbuster listing last year, with Paytm, Nykaa and PB Fintech also coming under pressure.

The selling in shares of internet companies like Zomato, Paytm, and PolicyBazaar has been triggered by the surge in global and domestic bond yields that has made their valuations richer than what their fundamentals dictate.

Oyo filed its Draft Red Herring Prospectus (DRHP) in September last year and has been in the process of responding to the questions and clarifications sought by the regulators.