Oyo Hotels Likely to File Mega Rs 8,000-crore IPO Next Week. Key Details to Know

© Provided by News18 Oyo Hotels Likely to File Mega Rs 8,000-crore IPO Next Week. Key Details to Know

The IPO party on the bourses in India is still on, and in this party, the new entrant would be Softbank backed Oyo Hotel and Room, which is expected to file for an IPO next week, the Reuters reported. After the stellar debut of food aggregator Zomato, the hospitality startup company OYO Hotels & Rooms is likely to go public and is eyeing between $1 billion – $1.2 billion which is approximately between Rs 7300 – 8800 crores. As per the media reports, this will consist of a fresh issue of shares and an offer for sale from existing shareholders. After Zomato, CarTrade, Paytm, PolicyBazaar, Nykaa, and Mobikwik, Oyo would be the seventh Indian tech unicorn to roll out an IPO. While Zomato and CarTrade have already rolled out their IPOs, the others have filed papers with Sebi.

The hospitality startup grappled with an existential crisis during the COVID-19 pandemic when  startup was the one which bore the brunt of this pandemic. The startup was necessitated to go for lay offs and massive salary cuts during the pandemic to stay afloat. Oyo Hotels & Homes has appointed bankers and lead book managers for its domestic public listing, and is expected to file its draft red herring prospectus (DRHP) by mid-Octobere the Mint reported.

The company has appointed Kotak Mahindra Capital, Citigroup, ICICI Securities, Nomura and Bank of America as lead book managers for the public issue, the business daily Mint reported. Of the total issue, up to $250 million could be in secondary share sales and early-stage investors of Oyo are likely to make a partial exit through this IPO

OYO recently raised about $5 million in a strategic investment from Microsoft, which operates in nearly three dozen countries. For the unversed, OYO uses its technology stack, helps hoteliers determine the best price for a room and helps them with discoverability and integrations with third-party hotel booking services such as booking.com and MakeMyTrip The company was recently valued at $9.6 billion and had about $780 million to $800 million in the bank as of three months ago and raised $660 million in debt in July. The company reported the debt funding worth $660 million from global institutional investors, including Fidelity Investments. According to the company, the proposed issuance was subscribed 1.7 times as it received commitments of close to $1 billion from leading institutional investors. Based on the response, the debt deal was upsized and increased by 10 per cent to $660 million, the company said in a statement.

Ritesh Agarwal who has over 30 per cent stake in the company is unlikely to offload any stake, many media publications reported. The company which was last valued at $9 billion is targeting a valuation of around $12-14 billion. Oyo Hotel and Rooms,is aggressively investing in technology and recently announced a partnership with global tech giant Microsoft to develop smart room experiences for travelers such as customized in-room experiences.

The OYO Hotels and Rooms made huge strides after 2013,. after 8 years of establishment in India, the company operates in 800 cities in more than 80 countries of the world. The company started its international operations in 2018 starting with Malaysia. It then entered into the markets of the UK, UAE, Dubai, China, Singapore, Indonesia, and others.In 2018, the company became a 100 per cent leased & franchised hotel chain. Last week, shareholders of Oravel Stays, the parent company of hospitality firm OYO, had approved the conversion of the company from a private limited company to a public limited company, according to a regulatory filing, as per the PTI report.

Read all the Latest News, Breaking News and Coronavirus News here

Internet Explorer Channel Network
News Related

OTHER NEWS

U.S. consumer watchdog orders tech giants to turn over information on payment data

© Reuters/ANDREW KELLY The seal of the Consumer Financial Protection Bureau (CFPB) is seen at their headquarters in Washington, D.C. By Michelle Price and Katanga Johnson WASHINGTON (Reuters) – The ... Read more »

Parents of 6-Year-Old Who Tragically Fell to Her Death from a Ride Say Amusement Park Nearly Killed Two Other Riders the Same Way

© Provided by Law & Crime Wongel Estifanos and her parents pictured together. The parents of Wongel Estifanos, a 6-year-old girl who fell 110 feet to her death from an ... Read more »

In memoir, Katie Couric writes of feeling betrayed by Lauer

NEW YORK (AP) — On a summer day in the Hamptons last year, Katie Couric and her husband, John Molner, went out for a walk and saw a familiar white ... Read more »

Sir David Amess: Murder suspect Ali Harbi Ali accused of plotting terror offences for more than two years

The suspect charged with the murder of the Conservative MP Sir David Amess is accused of plotting terror offences for more than two years, a court has heard.  Ali Harbi ... Read more »

Number of Covid 19 outbreaks in schools jumps five-fold in a week

© Sam Boal Rollingnews.ie Pictured a empty Junior Infants classroom ready for first day of school children at Gardiner Street Primary School Dublin. NEW FIGURES SHOW that the number of ... Read more »

Americans hate 'big government' until they experience the benefits

Progressives should build on the basic building blocks of policy to combat the existential dread of “big government.” © Getty Images President Biden The Gallup Organization asks Americans annually whether ... Read more »

Harris kisses Doug Emhoff with their masks ON at 57th birthday party

© Provided by Daily Mail MailOnline logo Kamala Harris and Doug Emhoff shared an awkward kiss through their masks during a supposed surprise birthday celebration for the vice president on ... Read more »

How to get M. Bison in Hot Wheels Unleashed

M. Bison is a fantastic car in Hot Wheels Unleashed based on the Street Fighter character of the same name. The physical Hot Wheels car was first released in 2020 ... Read more »

Ottawa to replace wage, rent subsidy programs with targeted supports

Ottawa is introducing new benefits for businesses and sectors hit hardest by the COVID-19 pandemic, allowing the current wage and rent subsidy programs introduced last year to expire on Oct. ... Read more »

Dice reveals all 10 Specialists in Battlefield 2042, addresses player concerns

© Provided by GamePur In an October 21 overview of their learnings from the Battlefield 2042 open playtest, Dice revealed a massive round of improvements coming to the release version ... Read more »

BlackRock close to investing 500 million euros in Ionity -sources

© Reuters/ARND WIEGMANN People are seen in front of a showroom that hosts BlackRock in Davos FRANKFURT (Reuters) – BlackRock is close to investing around 500 million euros ($582 million) ... Read more »

Daily on Energy: Democrats struggle to replace clean electricity program

Subscribe today to the Washington Examiner magazine and get Washington Briefing: politics and policy stories that will keep you up to date with what’s going on in Washington. SUBSCRIBE NOW: ... Read more »

Befrienders should be funded by the govt, says MP

© Provided by Free Malaysia Today With the pandemic bringing more suffering, the number of people calling Befrienders is increasing and the group needs help from the government, says Hannah ... Read more »

Gun dealer who shot dead his wife to be detained in mental health hospital

A gun dealer who shot his wife dead while convinced he was ill with Covid-19 has been sentenced to be detained in a mental health hospital. Peter Hartshorne-Jones, 52, took ... Read more »

The White Company's Black Friday sale: Everything you need to know

© Provided by Red (UK) Everything you need to know about the White Company Black Friday sale 2021, including the best products to buy in The White Company sale, from ... Read more »

Morning mail: Fears vaccines could be wasted, Brazil's president accused, AI robot sparks row

Photograph: Tim P Whitby/Getty Images Good morning. There is a push to send Australia’s excess AstraZeneca stock abroad, the Brazilian president is facing calls he be charged with crimes against ... Read more »

News Corp boss to kick off media inquiry

The global head of Rupert Murdoch’s News Corp will front a media diversity inquiry investigating how Australians can better access reliable, accurate and independent news. © Paul Miller/AAP PHOTOS The global ... Read more »

Mother of five-year-old boy found dead in river charged with murder

The mother of a five-year-old boy who was found dead in a river has been charged with his murder. Angharad Williamson, 30, from Sarn, is the third person to be ... Read more »

Tiny outback town's offer of ‘free land' draws interest from the coast to Hong Kong

It was only ever intended as a solution to a housing crisis in the tiny, outback town of Quilpie, in south-west Queensland. The plan was to build a maximum of ... Read more »

Ex-surgeon confesses he took wife's 'body out of the airplane over the ocean'

Robert Bierenbaum, a former plastic surgeon who was convicted of murdering his wife in 2000, confessed to killing her and throwing her body out of an airplane after more than ... Read more »

Cute memes linked to less Covid-related stress, new study says

Researchers found a direct connection between feeling positive after viewing Covid-related memes and feeling less stressed about the pandemic. Read more »

Aberfan disaster: What happened during the 1966 tragedy?

At around quarter past nine on the morning of Friday 21 October 1966, disaster struck the coal mining village of Aberfan in South Wales. © Rex Features/Getty Images Queen Elizabeth ... Read more »

Eurostar tests facial recognition to replace passport checks

Eurostar will trial facial recognition software allowing passengers to clear immigration without needing to take their passport out of their pocket. © Provided by The Telegraph Train Travellers will have ... Read more »

Oil refinery woes raise concern in Westminster over financial backers

The panic-buying of petrol and diesel that gripped the UK in September served as an unwelcome reminder of how disruption to supplies can rapidly escalate into crisis. But while the ... Read more »

Rapper Young Thug sues over swiped bag that had $40K, jewelry worth $94K and unreleased songs

The performer’s allegations are in a lawsuit against the company that manages the apartment complex where he lived and its concierge company. Read more »

Isko Moreno vows 50% fuel, electricity tax cut if elected

© STAR/File Isko Moreno vows 50% fuel, electricity tax cut if elected TARLAC CITY, Philippines — Manila Mayor Isko Moreno yesterday urged the national government to lower the excise tax ... Read more »

I locked eyes with a stranger crossing the street and felt the blast of pure eros

It was June 2020, really early in the morning, still dark around the edges, and I was crossing the big intersection at Spencer and Bourke streets in Melbourne. I was ... Read more »

PM's office failed to meet deadlines for majority of freedom of information requests in past year

Complaints about the government’s handling of freedom of information requests shot up 39% in a single year while refusal rates and delays also worsened, new data shows. © Provided by ... Read more »

Digital World Acquisition surges 200% on plans to merge with Donald Trump's media company

© AP Photo/LM Otero Former president Donald Trump speaking at the Conservative Political Action Conference in July. AP Photo/LM Otero Digital World Acquisition stock skyrockets 200% on Thursday in heavy ... Read more »

Melbourne's lockdown ends today. What are your new freedoms in Victoria under the Covid reopening rules?

On Friday, Melbourne will exit its sixth lockdown, after 70% of people aged over 16 in Victoria have received two doses of the Covid-19 vaccine. © Provided by The Guardian ... Read more »

Lawmakers: South Carolina redistricting lawsuit is premature

© Provided by Associated Press FILE – In this Wednesday, July 28, 2021, file photo, people look over the current South Carolina Senate districts at a public meeting by a ... Read more »

P&G's Evelyn Chua-Ng: Finding the right work-life balance

© STAR/File P&G’s Evelyn Chua-Ng: Finding the right work-life balance Executive profile: MANILA, Philippines — At the prime of her life, Evelyn Chua-Ng, 43, is an outstanding example of a ... Read more »

Laundries 'may have already spilled details to FBI to avoid charges'

© Provided by Daily Mail MailOnline logo Brian Laundrie‘s parents may have already spilled what they know about Gabby Petito‘s murder to the FBI to avoid obstruction charges, law enforcement ... Read more »

TNT braces for game 2 grind

© BW / Alvin S. Go TNT braces for game 2 grind Williams, Sangalang game-time decision MANILA, Philippines — TNT knows all too well that one lopsided result doesn’t necessarily ... Read more »

Book fair centers on Covid-19

FRANKFURT: This week’s Frankfurt book fair, the world’s oldest and largest, brings with it the first wave of pandemic novels. But are readers ready to relive coronavirus and lockdown life ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic