The SoftBank Group-backed start-up is expected to get the green light to proceed with the offering this week or next after filing preliminary documents last year, said the people, asking not to be named because the talks aren't public. A formal roadshow will begin after regulatory approval and determine final pricing.
The valuation Oyo is targeting would be lower than the $12 billion (88,000 crore) initially reported in local media last year and probably lower than the $10 billion level the start-up hit in 2019. The start-up, led by 28-year-old Ritesh Agarwal, has discussed offering a discount of as much as 15 per cent on the $10 billion suggested by bankers during early discussions, the person said.
This story is from the January 18, 2022 edition of Business Standard.
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This story is from the January 18, 2022 edition of Business Standard.
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