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FHRAI again requests SEBI to bar OYO’s IPO efforts after CCI penalty

Posted : 16 November 2022 10:35:17 | By TWO Bureau | GNN Bureau

FHRAI again requests SEBI to bar OYO’s IPO efforts after CCI penalty

In the backdrop of the recent penalty imposed by the Competition Commission of India (CCI) on OYO for unfair business practices, India’s apex hospitality association - Federation of Hotel & Restaurant Associations of India (FHRAI) - has submitted a representation to the Securities and Exchange Board of India (SEBI), requesting it to bar the hotel rooms aggregator from floating an IPO.



The association has informed and updated SEBI about the judgement passed by the CCI.



Last year, the FHRAI had written to SEBI specifically requesting to suspend OYO’s IPO process to protect the interests of thousands of hotels as well as the general public. The association has brought to the attention of the market regulator OYO’s systemic depredation of budget hotels, causing serious distress to the hospitality sector of the country.




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Tags : #FHRAI, #IHM, #NCHMCT, #Hospitality-management, #professional-courses, #OYO, #SEBI, #CCI


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