India Roundup: Oyo seeks up to $15b valuation in IPO

Oyo eyes valuation of up to US$15 billion in upcoming IPO

• The hospitality startup is looking to raise between US$1 billion and US$1.2 billion in the initial public offering, which will largely come from fresh stock issuances, The Economic Times reported.
• Ritesh Agarwal, the company’s founder, will reportedly not dilute his stake. However, existing investors may sell a part of their stake through an offer for sale.
• Oyo is supposedly looking at pricing its shares at a certain level where investors can log listing gains.

Twitter hires fresh execs to comply with new social media rules

• The company appointed Shahin Komath, a former executive of ByteDance, as the nodal contact person. Meanwhile, Vinay Prakash will serve as the firm’s chief compliance officer and resident grievance officer.
• Twitter and the Indian government have been at loggerheads since January after the microblogging platform failed to comply with directives to take down certain posts.
• In June, the Indian police registered three new cases against Twitter over a controversial depiction of an Indian map in its careers page and the alleged availability of child pornography on its platform.