OYO begins discussions with banks for IPO
The Hindu
Global travel tech platform OYO in discussions with bankers for IPO, targeting $6-7 billion valuation in Q4 FY25.
“Global travel tech platform OYO has started discussions with bankers for a fresh attempt at IPO (Initial Public Offering), targeting a listing in the last quarter of the current financial year,” sources said.
Preliminary discussions with investment banks have indicated a potential valuation range of $6-7 billion for the public offering.
The company started informal discussions last month and is now calling for pitches, according to a person familiar with the development.
"The company is engaging with both Indian and international banking institutions with plans to potentially file the DRHP documents between Aug-Sept this year. It is yet to decide whether to file with FY25 financial results or wait till the Q1 FY26 financials are audited and ready for filing," sources told PTI.
A crucial round of discussions with the company's board and with its key shareholder, SoftBank's representatives, is scheduled for June in London.
"The Board and all shareholders, including SoftBank, are keen for the company to actively evaluate filing an IPO application in the near future due to the swift business turnaround with an estimated ₹620 crore net profit in FY25," said a source close to the development.
The renewed IPO push comes after OYO had previously filed and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021, seeking to raise ₹8,430 crore through a public offering.
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