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SoftBank-backed Oyo shortlists 3 investment banks for $1.2-bn IPO: Report

The hotel aggregator, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs, cost cuts and losses during the global health crisis

The startup which was recently valued at $10 bn, its businesses suffered as pandemic hit travel sector, following operational missteps that soured partnerships with hotel owners. (Photo: Bloomberg)

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Reuters

2 min read Last Updated : Aug 09 2021 | 6:01 PM IST

SoftBank-backed Indian hospitality startup Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for a more than $1.2 billion initial share sale, a financial news website reported on Monday, citing multiple industry sources.

The three investment banks were taken on board recently, Moneycontrol reported, quoting one of the sources.
The work on the initial public offering has started, the report said, adding the company is leaning

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Topics : SoftBank Oyo initial public offering (IPO)

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