India`s Oyo `pre-files` confidentially for IPO
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd has submitted a confidential "pre-filing" document for an initial public offering, a source close to the company said on Friday.
The company had initially filed to go public in October 2021, but delayed the share sale at that time.
The confidential filing option, introduced by the Securities and Exchange Board of India last year, would give the company flexibility on the size of its share issue and the timing of the IPO, the source said.
The company is now aiming for an IPO size of $400-$600 million, according to the source, who said the plan is to list later this year, closer to the Indian festival of Diwali.
A spokesperson for Oyo, officially known as Oravel Stays, declined to comment when contacted by Reuters.
