Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

<ul>
<li>Hospitality start-up, <a href="https://www.smartkarma.com/entities/oyo-pvt-ltd" target="_blank" data-smartkarma-citation="entities:28861:1" rel="noopener">Oyo (1698548D IN)</a> is trying to ride the Indian IPO wave with a $1.1bn IPO in India. The company filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on the 1<sup>st</sup> of October 2021 to commence the IPO process while there is an ongoing legal battle between Oyo and the backpacker hostels chain Zostel.</li>
<li>Zostel has requested SEBI to reject Oyo’s draft prospectus stating that Oyo’s capital structure in the draft prospectus fails to recognise Zostel’s right to receive 7% of the share capital of Oyo as a result of a merger agreement between Oyo and Zostel in 2015.</li>
</ul>


Hospitality start-up, Oyo (1698548D IN) is trying to ride the Indian IPO wave with a $1.1bn IPO in India. The company filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on the 1st of October 2021 to commence the IPO process while there is an ongoing legal battle between Oyo and the backpacker hostels chain Zostel.
Zostel has requested SEBI to reject Oyo’s draft prospectus stating that Oyo’s capital structure in the draft prospectus fails to recognise Zostel’s right to receive 7% of the share capital of Oyo as a result of a merger agreement between Oyo and Zostel in 2015.


Oyo’s IPO Plan Could Stumble Amidst Ongoing Litigations