OYO to file for up to $1.2 billion-IPO next week

Hospitality firm OYO is planning to raise up to $1.2 billion (around Rs 8,000 crore) through an initial public offering and is expected to file the draft red herring prospectus with Sebi next week, sources told PTI on Thursday.

OYO has appointed investment banks like JPMorgan, Citi and Kotak Mahindra Capital to manage its public issue, they added.

Comments from OYO could not be obtained at the time of filing the story.

The proposed initial public offer (IPO) plan of the hospitality firm follows the spectacular success of Zomato’s IPO that ended with a bumper oversubscription on July 16, and was biggest since March 2020.