mumbai/new delhi, July 1 -- Hospitality firm Oravel Stays Ltd, parent of Indian travel platform Oyo, plans to raise Rs.6,650 crore in an initial public offering, three-fourths of which will go to repay or prepay debt, its updated draft share sale papers showed. The initial public offering (IPO) will not have an offer for sale, meaning existing investors including SoftBank and founder Ritesh Agarwal will retain their holdings. Oravel has to repay Rs.7,044 crore on a five-year debt facility from Deutsche Bank AG, which it raised in 2021. The company had accounted Rs.1,089 crore as finance costs for the nine months ended December 2025. Like other prospectuses that detail risks for investors, the updated draft red herring prospectus (UDRHP) lis...