Zostel asks SEBI to review Oyo's disclosures in updated IPO draft

Zostel has requested SEBI to inspect the disclosures provided by Oyo-parent Prism in its revised draft IPO documents. According to Zostel, the draft papers offer an incomplete and biased summary of their ongoing legal battle regarding a 7% equity claim, which might impact the valuation of the IPO. This legal conflict arises from Oyo's planned acquisition of Zostel back in 2015.