As per the Bloomberg reported on January 17, Oyo Hotels and Homes is targeting $9 billion valuations in the IPO. The company already filed DRHP with SEBI in September 2021 and may get approval in the coming months.
The start-up is backed by SoftBank Group. SoftBank holds about 47% of the equity and will sell some part of it. Ritesh Agarwal-led start-up is targeting Oyo valuation lower than $12 billion as per the market speculations and the IPO might have a 15% retail discount for the offerings. Ritesh Agarwal has 33% of the equity. Other investors of the company are Lightspeed Venture Partners, Sequoia Capital, Star Virtue Investment (Didi), Greenoaks Capital, AirBnB, HT Media, and Microsoft. Only SoftBank might offload a few stakes in IPO while other investors might not sell their shares, still, there are no official announcements.
The big IPOs are not doing well as we witnessed a digital payment leader PayTM that listed and struggled a lot for last few weeks to the half of the IPO price. As per the market speculations, the Oyo IPO might raise around Rs.8430 crores through the sale of new shares and some secondary shares held by the existing investors of the company.
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full stack technology that increases earnings and eases operations. Bringing affordable and trusted accommodation that guests can book instantly.
