Oyo said to file for $1.2-billion IPO next week

Bengaluru: Oyo Hotels & Homes, a SoftBank Group-backed Indian hospitality startup, is expected to file for an initial public offering (IPO) next week to raise around $1 billion, according to sources.

The hotel aggregator is looking to list in Mumbai and its IPO is tentatively pegged at between $1 billion and $1.2 billion, the source said, adding that the initial share sale will consist of a fresh issue of shares and an offer for sale from existing shareholders.