New Delhi, July 9 -- Zostel has approached the Securities and Exchange Board of India (SEBI) to examine the disclosures provided by Oravel Stays, which is the parent company of Oyo, in its updated draft red herring prospectus (UDRHP) submitted for its intended initial public offering (IPO), as stated in a news report.

In a statement on 7 July, Zostel claimed that Oyo's IPO filing presents a partial and selective overview of the ongoing legal conflict between the two firms, according to news reports.

It has requested that SEBI evaluate if the disclosures fulfil the requirements of completeness, fairness, and materiality outlined in the SEBI Act and the ICDR Regulations before permitting the IPO process to advance.

Zostel claimed in the ...