OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a $7-8 billion valuation for its IPO. (Photo source: Company) Show Quick Read Summary is AI Generated. Newsroom Reviewed

A fintech founder has raised concerns about a potential “daylight heist” by hospitality chain OYO Rooms, alleging that retail investors are being “short-changed” by the company’s promoters.

In a post on X on Friday, financial expert Mohit Garg said that on Oct. 27, OYO sent out a postal ballot with three proposals: increasing authorised capital, issuing bonus CCPS (Compulsorily Convertible Preference Shares), and granting sweat equity.

“Normally, whenever you are a retail shareholder, you would tend to ignore such postal ballots & emails from companies. Which is exactly the intention of

See Full Page