Oyo Hotels Ipo

Oyo Hotels, the once hard-charging startup that struggled during the pandemic, is eyeing a valuation of about $9 billion in its IPO

Indian hospitality startup Zostel has asked the market regulator to reject an application from SoftBank Group-backed rival Oyo Hotels and Rooms to go public due to a legal tussle between the firms over a deal that fell apart six years ago.

Oyo is the latest Indian unicorn to file its intent to go public after food delivery startup Zomato Ltd. became the first to list in July.

Oyo, in which SoftBank owns a 46 per cent stake and is one of its biggest bets, has endured months of layoffs, cost-cuts and losses during the global health crisis.

Microsoft has invested $5 million (roughly Rs. 37.15 crores) in hotel aggregator Oyo, which is backed by Softbank, according to a regulatory filing, ahead of the Indian hotel chain's plan to go public.

Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for a more than $1.2 billion initial share sale.

Microsoft is in advanced talks to invest in Indian hotel chain Oyo at a $9-billion (roughly Rs. 66,850 crores) valuation, a source familiar with the matter said.

Berkshire Hathaway Inc-backed Paytm, hospitality company Oyo Hotels and ride-hailing firm Ola, both backed by SoftBank, are among other startups set to enter markets.

Oyo Hotels, the once hard-charging startup that struggled during the pandemic, is eyeing a valuation of about $9 billion in its IPO

Indian hospitality startup Zostel has asked the market regulator to reject an application from SoftBank Group-backed rival Oyo Hotels and Rooms to go public due to a legal tussle between the firms over a deal that fell apart six years ago.

Oyo is the latest Indian unicorn to file its intent to go public after food delivery startup Zomato Ltd. became the first to list in July.

Oyo, in which SoftBank owns a 46 per cent stake and is one of its biggest bets, has endured months of layoffs, cost-cuts and losses during the global health crisis.

Microsoft has invested $5 million (roughly Rs. 37.15 crores) in hotel aggregator Oyo, which is backed by Softbank, according to a regulatory filing, ahead of the Indian hotel chain's plan to go public.

Oyo Hotels & Rooms has shortlisted JP Morgan, Kotak Mahindra Capital and Citi for a more than $1.2 billion initial share sale.

Microsoft is in advanced talks to invest in Indian hotel chain Oyo at a $9-billion (roughly Rs. 66,850 crores) valuation, a source familiar with the matter said.

Berkshire Hathaway Inc-backed Paytm, hospitality company Oyo Hotels and ride-hailing firm Ola, both backed by SoftBank, are among other startups set to enter markets.