OYO logoRitesh 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.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.