Indian hospitality major Oyo to file for up to $1.2b IPO next week

Indian hospitality major Oyo to file for up to $1.2b IPO next week

Visual from OYO website

SoftBank Group-backed Indian hospitality startup Oyo Hotels and Rooms is expected to file for an initial public offering (IPO) next week to raise around $1 billion, a source told Reuters on Thursday.

The hotel aggregator is looking to list in India’s financial capital of Mumbai and its IPO is tentatively pegged at between $1 billion and $1.2 billion( ₹8,000 crore), adding it will consist of a fresh issue of shares and an offer for sale from existing shareholders.

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