India's 3rd most-valued startup OYO files for ₹8,430-crore IPO


Image Source: The Economic Times

India’s Oyo Hotels & Homes listed preceding documents for an 84.3 billion rupee ($1.1 billion) first public offering, following the rush of technology unicorns trying to list on the nation exchanges after a world-beating stock assembly. The hotel booking service, supported by SoftBank Group Corp. & Airbnb Inc. intends to raise 70 billion rupees by the sale of new shares, according to the filing. The rest will be secondary shares or those contracted by existing stockholders. 

The startup was far valued at around $9 billion, according to CB Insights, creating it India’s third most valuable startup. Founder Ritesh Agarwal, his holding organization RA Hospital Holdings, and SoftBank Vision Fund -- the three biggest shareholders -- are the promoters, according to the plan. SoftBank continued 47% while Agarwal and his holding company owned a combined 33% stake in the firm.

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