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Deepti Sri · · 1 min readSoftBank-backed Oyo plans to launch $1.2b IPO in India by September
“Oyo Hotels and Homes will soon join the list of startups launching an initial public offering (IPO) in the country,” reported The Economic Times, citing people aware of the development.
Details:
- The SoftBank-backed company will reportedly file for a listing worth US$1.2 billion in September and aims to become a public company by the end of 2021.
- To manage its stock market debut, Oyo is in talks with bankers including JP Morgan, Citi, and Kotak Mahindra Capital, according to the sources.
Dive deeper:
- The development comes after Oyo raised US$660 million in a senior secured syndicated credit facility from global institutional investors last month.
- Oyo is the latest firm to join a growing list of Asian tech startups going public. (Read: The leading Asian tech players eyeing an IPO in 2021)
Editing by Collin Furtado and Eileen C. Ang
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