Oyo to file drhp in November, targets $ 7-8 billion IPO Valuation: Report

Global Travel Tech Firm Oyo Plans to File Its Draft Red Herring Prospectus (DRHP) in November, Eyeing a $ 7-8 billion Valuation for its IPO, Sources said.

The company is expected to approach its board with the proposal next week, people family family with the matter told Pti,

When reached out, a company spokesperson said, “while we cannot comment on any timelines related to oyo’s drhp or ipo related plans, sins it’s a decision Directors and will be solely at their discretion.

According to sources, discusations with key banking partners have ramped up in recent weeks, with Valuation Guidance Now Peged at $ 7-8 Billion (AROUND ₹ 70 Per Share) Times the ebitda.

“The filing with regulators are being considered for November. Over the past few months, softbank has engaged with banks such as Axis, CITI, GOLDMAN SACHS, ICICI, JEFFFFRIESIS In London To Assess Market Sentimen Elements, “said one person aware of the developments.

Softbank remains one of oyo’s largest sharehlders. Insiders indicate that Prospective Filing will show showcase oyo’s latest Q1 Financial Performance, Capitalising on a Period of Strong Growth and Improved Fundamentals.

This has also been a double-digit growth Quarter for the Hospitality Industry with Strong Tailwinds.

Oyo is working on the rollout of a new parent brand identity that will unify its expanding portfolio.

Earlier this year, Oyo Founder and Ceo Ritesh Agarwal Sought Name Suggestions for its parent entity outs outs limited via his social media platforms.

The name chown through the exercise may end up being the new name of the group.

Oyo is also actively exploring launching a separet app Global markets.