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Oyo Aims To Launch IPO By 2021 End; Likely To File Draft Red Herring Prospectus By September: Report
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Ritesh Agarwal led Oyo Hotels and Homes is set to join the growing list of unicorn startups that are on the path to get listed in the Indian bourses as its gears for an initial public offering (IPO) in 2021 itself, reports Economic Times.
The company is said to have internally set a timeline of September to file its IPO prospectus with the market regulator SEBI, and it has also initiated talks with multiple bankers to manage its public issue. These include JP Morgan, Citi and Kotak Mahindra Capital.
The development also comes at a time when Oyo's business is witnessing a revival in India and Europe as the COVID-19 cases continue to fall and vaccination coverage continues to rise.
Presently, 43 per cent of Oyo’s revenue comes from India and Southeast Asia while 28 per cent comes from Europe and the rest from other global markets.
Once it files its DRHP with SEBI, it will join the likes of Paytm, PolicyBazaar, Nykaa, Mobikwik and CarTrade which are set to list on the bourses soon.
Meanwhile, the company is also said to be in talks with technology behemoth Microsoft for raising funds.
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