IPO: Oyo eyes up to $12 bn in valuation

Oyo Hotels had hinted at an initial public offering(IPO) in 2019 shortly before the pandemic battered the travel industry

Indian hotel aggregator Oyo Hotels is seeking a valuation of $10 billion to $12 billion, a source close to the matter told Reuters, as it filed for a local listing that could be the first for a hospitality firm since 2019.

The aggregator, which Japanese conglomerate SoftBank counts among its biggest bets, had hinted at an initial public offering(IPO) in 2019 shortly before the pandemic battered the travel industry. The offering will consist of a fresh issue of shares of up to ₹70 billion ($942.8 million) and an offer for sale of as much as ₹14.30 billion, according to a copy of its draft red herring prospectus.

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