Exclusive: OYO Likely To List Around Diwali; May Reduce IPO Size To $800 Mn

Exclusive: OYO Likely To List Around Diwali; May Reduce IPO Size To $800 Mn

SUMMARY

OYO is looking to reduce its IPO size to $800 Mn from $1.2 Bn it planned earlier

Negative market sentiment, headwinds posed by the pandemic and investor pullback has led the company to seek a lower valuation of $7 Bn-$8 Bn

OYO filed its DRHP with SEBI in October last year, and has now sought its approval to file the financial statements for FY22

Hospitality unicorn OYO is looking to list on the stock exchanges around the Diwali festive season, multiple sources aware of the development informed Inc42. 

Delhi-NCR based OYO, which filed its Draft Red Herring Prospectus (DRHP) in October last year to raise $1.2 Bn (INR 8,430 Cr) through an initial public offering (IPO), is now looking at an issue size of $800 Mn, a 33% reduction from its earlier plans, the sources said

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