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Bloomberg: Oyo Hotels Eyes $800M India IPO with Bank Backing
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Bloomberg.com
Photo by jennifer latham on Unsplash
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Key takeaways
- , operator of Oyo Hotels and backed by SoftBank Group Corp
- , has engaged several banks to manage its planned initial public offering (IPO) in Mumbai
- Sources familiar with the matter suggest the IPO could value the company at up to $800 million
Oravel Stays Ltd., operator of Oyo Hotels and backed by SoftBank Group Corp., has engaged several banks to manage its planned initial public offering (IPO) in Mumbai. Sources familiar with the matter suggest the IPO could value the company at up to $800 million.
Axis Bank Ltd., ICICI Securities Ltd., and the Indian branches of Goldman Sachs Group Inc. and Citigroup Inc. are reportedly working on the share sale. According to sources, Oyo is expected to file a draft prospectus later this year and may expand its banking syndicate in the future.
Related Topics
Oyo HotelsIPOIndiaSoftBankOravel Stays Ltdhospitalitytravel tech
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