Oyo IPO: Travel and hospitality platform Oyo has started preparations for the IPO afresh. The 5 investment bank selected by Oyo is scheduled to meet the company’s leading shareholder SoftBank in June this year. According to the news agency PTI report, these banks include ICICI Securities and Axis Capital as well as City Bank, Goldman Sachs and Jeffers.
The Japanese group SoftBank is one of Oyo’s largest shareholders. Therefore, this meeting has a lot of meaning. PTI has come to know from sources that the meeting is scheduled to take place at the Groswon Street Office in London, SoftBank. 5 Banks will present a strategy related to Oyo’s IPO in front of SoftBank’s Sumer Juneja. Oyo founder Ritesh Aggarwal and his senior leadership team will also be involved in this.
Earlier there was news that Oyo could submit the document again for the IPO between August and September this year.
IPO has been postponed 3 times so far
Oyo Hotels has so far postponed the IPO plan 3 times. The company was to bring the IPO in October this year. But the news came that SoftBank objected to the proposed time of the IPO. At the same time, he has pressurized Oyo to stop the IPO offer till his earnings are strong. The company then postponed the IPO’s plan. Now Oyo aims to list on a valuation of $ 7 billion by March 2026.
OYO first filed draft papers near the Capital Market Regulator SEBI for IPO of Rs 8430 crore in September 2021. Due to the then unstable market conditions, Kovid postponed the plan in view of the situation arising out of 19. After this, in March 2023, the company tried again and submitted a draft from the Confidential Route. In May 2024, the company applied to SEBI to withdraw IPO’s draft red herring prospectus (DRHP) for the second time. The company had said that after the release of the bond, it would file the updated version of DRHP again.
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