Zostel Drops Plea To Ring-Fence Disputed 7% Stake In IPO-Bound OYO
Zostel withdrew its Delhi High Court plea to ring-fence a contested 7% stake in OYO (now PRISM), while pursuing an appeal and urging SEBI to scrutinise the IPO disclosures. Appeal hearing is set for August 2026, keeping a legal overhang on the listing timeline.
Zostel withdrew its Delhi High Court plea to ring-fence a disputed 7% stake in IPO-bound OYO (now PRISM), while pursuing an appeal and asking SEBI to scrutinise PRISM's IPO disclosures. Appeal hearing set for August 2026.
Why this matters
OYO rebranded to PRISM ahead of its IPO, but Zostel's contested 7% stake claim keeps a legal cloud over the listing. Withdrawing the ring-fence plea narrows the immediate dispute while the August 2026 appeal preserves the overhang.
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