Highlights

Softbank backed budget hotel chain Oyo to file for an IPO
DRHP likely to be filed by next week
Oyo was last valued at $9.6 billion

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Oyo IPO to check-in into Dalal Street soon; DRHP for billion dollar issue likely next week

Name: Oyo IPO to check-in into Dalal Street soon; DRHP for billion dollar issue likely next week
Uploaded: 2021-09-23T10:19:30.000+05:30
Duration: T00M43S
Channel: Editorji News Desk
Description: Oyo is all set for its IPO very soon as it prepares to file the draft prospectus by next week. ALSO READ: Freshworks mega debut on Nasdaq As per reports, the budget hospitality chain is planning to peg its initial o...

Microsoft recently invested $5 million in the hotel firm

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Oyo IPO to check-in into Dalal Street soon; DRHP for billion dollar issue likely next week

Oyo IPO is all set to hit the markets as it prepares to file the draft prospectus (DRHP) as early as week.As per reports, the budget hospitality chain is planning to peg its initial offering at around $1 billion or Rs 7,500 crore. The issue will include fresh issue of shares and some offer for sale from its existing investors.

ALSO READ: Freshworks mega debut on Nasdaq

The IPO papers are ready, and bankers are waiting for final approval from the company before filing it with the Securities and Exchange Board of India, ET reported quoting sources.

Microsoft recently invested $5 million in the hotel firm, giving Oyo a valuation of nearly $9.6 billion. The startup, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs, cost-cuts and losses during the global health crisis.