Microsoft to invest in OYO before its potential IPO

Satya Nadella-run Microsoft is in advanced talks to invest in Airbnb-backed Indian budget hotel chain OYO at a valuation of $9 billion, as the hospitality chain is planning a potential initial public offering (IPO) soon, sources said.

Reliable sources told IANS that a deal may close soon once the due regulatory processes are met. The size of the deal could not be ascertained.

There was no official confirmation from either Microsoft or OYO as of now.

The Ritesh Agarwal-run hospitality chain has Airbnb, Chinese ride-hailing giant Didi Chuxing and ride-hailing firm Grab as strategic investors.

Founder and CEO Agarwal said earlier this month that the company would consider a potential IPO soon.