Softbank-backed Oyo sees recovery in India picking pace, offers no timeline to IPO

File photo of OYO founder and CEO Ritesh Agarwal and SoftBank CEO Masayoshi Son.

India’s Oyo Hotels and Homes chief executive said on Wednesday the SoftBank-backed hospitality startup’s business was likely to return to levels seen before the second wave, but did not provide a timeline for its potential public offering.

“In India, if all goes well, in a couple of weeks our numbers will be back to pre-wave two and then growing from there,” Founder and CEO Ritesh Agarwal said at a Reuters Next Newsmaker event on Wednesday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter