Oyo appoints banks for IPO, set to file draft papers in Oct

Hospitality unicorn 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-October, three persons aware of the discussion told Mint.

The company has appointed Kotak Mahindra Capital, Citigroup, ICICI Securities, Nomura and Bank of America as lead book managers for the public issue, two persons confirmed to Mint under condition of anonymity.

Oyo is looking to raise $1.2 billion from its public issue, the two people cited above confirmed.

Of the total issue, up to $250 million could be in secondary share sales, the third person said, also requesting anonymity. Early-stage investors of Oyo are likely to make a partial exit through this IPO, he added.