OYO Hotels hinted at an initial public offering (IPO) in 2019, 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 said. Reuters, as it filed for a local listing which could be a first for a hospitality firm since 2019.
The aggregator, which Japanese conglomerate SoftBank counts among its biggest bets, hinted at an initial public offering (IPO) in 2019 before the pandemic battered the travel industry. According to a copy of its draft red herring prospectus, the offering will include a fresh issue of shares for up to ₹70 billion ($942.8 million) and an offer for sale for up to ₹14.30 billion.
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