SoftBank-backed Oyo files draft papers for $1.14 billion IPO

October 1, 2021

BENGALURU (Reuters) – SoftBank-backed Indian hotel aggregator Oyo filed for an initial public offering on Friday, becoming the first hospitality company to seek a domestic stock listing since 2019.

The offering will consist of a fresh issue of shares of up to 70 billion rupees ($942.8 million) and an offer for sale of up to 14.30 billion rupees, according to a copy of its draft herring prospectus dated Sept. 30.

(Reporting by Chandini Monnappa and Vishwadha Chander in Bengaluru; Editing by Sherry Jacob-Phillips and Sriraj Kalluvila)

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