Friday, 24 March, 2023

Founder Ritesh Agarwal unlikely to sell any stake in Oyo IPO

<p>Oyo Hotels &amp; Homes has plans to list itself aiming for a valuation of $12-15B, but founder Ritesh Agarwal is unlikely to sell any of his 30% stake in Oyo&#39;s parent company Oravel Stays. The startup was valued at $9.6B after a &quot;strategic investment&quot; by Microsoft last month and is aiming to raise over $1B by issuing fresh stock in the IPO. Oyo, which has had to cut its employee base, could file for the IPO as soon as next week.</p> <p>&nbsp;</p>