SoftBank-backed Oyo shortlists investment banks for $1.2 billion IPO: Report

SoftBank-backed Oyo Hotels & Rooms has shortlisted investment banks JP Morgan, Kotak Mahindra Capital and Citi for its initial public offering in India, financial news website Moneycontrol reported on Monday, citing multiple industry sources.

The three banks were taken on board recently and work on the issue has started, Moneycontrol quoted one of the persons cited above as saying.

Oyo did not immediately respond to Reuters request for comment.