Oyo, an India-based hotel booking platform backed by SoftBank, is planning an IPO in Mumbai that could raise up to US$800 million, according to sources familiar with the matter.

The company has hired Axis Bank, ICICI Securities, and the Indian units of Goldman Sachs and Citigroup to manage the deal.

Oyo may file its draft prospectus later this year and could bring on more banks, the sources said.

The IPO, expected in 2026, is likely to include both new and existing shares, with a potential valuation between US$7 billion and US$8 billion, though details may change.

🔗 Source: Bloomberg

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