OYO to file for $1 billion IPO

OYO was most recently valued at $9.6 billion

Oyo is now planning to file for an initial public offering (IPO) as soon as possible.

 

The startup is only seven-year-old and was founded by 27-year-old Ritesh Agarwal. He is planning to raise as much as $1.2 billion in primary and secondary sales in the IPO and is also aiming for a valuation of over $12 billion.

 

The mentioned terms and actions could slightly change in the next few days and the company may take an additional few days to file the paperwork.Like Zomato and other firms, Oyo plans to list on Indian stock exchanges.

 

OYO was most recently valued at $9.6 billion. The firm has $780 million to $800 million in the bank, according to reports from three months ago and also raised $660 million in debt in July.

 

India Scanner News Network

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