Zostel Flags OYO's IPO Papers to SEBI Over Alleged Gaps in Dispute Disclosures
Zostel has filed a 56-page representation to SEBI, alleging OYO parent Prism's updated draft prospectus misrepresents their long-running legal dispute ahead of a proposed Rs 6,650 crore fresh issue. The row centers on a 2021 arbitral award and a May 2025 Delhi HC order, with Zostel claiming a 7% economic interest.
Zostel has petitioned SEBI to review OYO parent Prism's IPO disclosures, alleging its updated draft prospectus presents their long-running legal dispute in a misleading manner ahead of OYO's proposed Rs 6,650 crore public offering.