FHRAI asks SEBI to axe Oyo’s IPO citing massive losses

The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday urged the Securities and Exchange Board of India (SEBI) to call off online hospitality major Oyo's initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years.

Hospitality sector sore as Centre stalling Rs 60K cr package

In a representation to Sitharaman, the FHRAI has sought her intervention to set in motion the Rs 60,000 crore sanctioned under the 'Loan Guarantee Scheme' for Covid-hit sectors, as announced by her on June 28, said FHRAI Vice President Gurbaxish Singh Kohli.