Friday, 24 March, 2023

Oyo files for $1.2B IPO, founder, key investors won't dilute stake

<p>Travel tech company Oyo has filed the draft red herring prospectus for a ₹8,430 cr IPO, with the Securities and Exchange Board of India. Oyo is aiming for a valuation of $11-12B. The proceedings raised from the IPO will be used to repay debts of its subsidiaries, fund organic and inorganic growth initiatives, and for general corporate uses. Current key investors are founder Ritesh Agarwal, with 33.15%, while SVF Holdings has a 46.62% stake.</p>