OYO IPO: SoftBank-backed hospitality giant files draft papers for $1.14 billion initial offer
Zee News
Oyo's IPO comes at a time when travel restrictions are being eased across the globe and the tourism sector is rebounding as people head out on vacations after lengthy lockdowns.
New Delhi: SoftBank-backed Indian hotel aggregator Oyo filed for a $1.14 billion initial public offering (IPO) on Friday, becoming the first hospitality company in the country to seek a domestic stock listing since 2019.
The hotel aggregator`s long-awaited IPO comes at a time when travel restrictions are being eased across the globe and the tourism sector is rebounding as people head out on vacations after lengthy lockdowns.
The offering will consist of a fresh issue of shares of up to 70 billion rupees ($942.8 million) and an offer for sale of as much as 14.30 billion rupees, according to a copy of its draft herring prospectus dated Sept. 30. (Also Read: RBI’s new auto-debit rules start today: 5 key things to know )