Oyo Eyes $7-8 Billion Valuation With Fresh IPO Filing in November: Report

Oyo is preparing once again to test the public markets, with reports that the company will file fresh IPO papers in November. If approved by its board, the Indian hotel operator could seek a valuation of $7-8 billion.

Now, sources quoted by news agency PTI say Oyo’s board will review fresh papers in the coming weeks. SoftBank has reportedly sounded out bankers from Axis, Citi, Goldman Sachs, ICICI, JM Financial, and Jefferies. Market sentiment appears to have come back strong enough for a go-ahead.

Oyo, for its part, is cautious. A spokesperson told Skift on Monday: “We cannot comment on any timelines related to Oyo’s DRHP or IPO related plans, since it’s a decision that will be guided by Oyo’s board of directors and will be solely at their discretion. For now, Oyo continues to evaluate a