SEBI adopts stricter approval process in IPO clearance, returns DRHP of OYO, 6 other companies

The Securities and Exchange Board of India (SEBI) has returned the preliminary papers of six companies, including Oravel Stays, which operates the hospitality chain OYO, to refile their draft red herring prospectus (DRHP) with certain updates. After Paytm's IPO fiasco, which went public in 2021, SEBI has turned cautious and stricter in its approach while giving its go-ahead to IPOs,…
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