Oyo files for IPO to raise over ₹8,000 crore. Details here
Hotel-booking startup Oyo Hotels & Homes has filed its draft papers with market regulator Securities and Exchange Board of India (SEBI) on Thursday for an ₹8,430 crore ($1.1 billion) initial public offering (IPO). The hospitality unicorn had appointed bankers and lead book managers for its public listing last month, and was expected to file DRHP by October.
The SoftBank Group Corp. and Airbnb Inc.-backed firm plans to raise 70 billion rupees through the sale of new shares, according to the filing. The rest will be secondary shares or those sold by existing stockholders.
The startup was last valued at about $9 billion, according to CB Insights, making it India’s third most valuable startup.
Founder Ritesh Agarwal, his holding company RA Hospital Holdings and SoftBank Vision Fund...