The announcement by OYO comes along with reports of the Seattle based Microsoft investing in the SoftBank backed Indian unicorn
The plan may be to raise in excess of $1.2 Bn, though the size hasn’t been finalised and may vary at a later stage
OYO recently raised a $660 Mn in term loan B (TLB) funding from global institutional investors
Hospitality unicorn OYO Hotels and Rooms announced today that it has shortlisted investment banks JP Morgan, Kotak Mahindra Capital and Citi for an initial public offer ( IPO) to raise in excess of a billion dollars.
According to a report by Moneycontrol, the above-mentioned banks were taken on board recently and have begun to work on all issues.