Of the total issue, up to $250 million could be in secondary share sales and early-stage investors of Oyo are likely to make a partial exit through this IPO

Oyo Hotels and Homes is expected to file an IPO next week, Reuters news agency reported. After the stellar debut of food aggregator Zomato, the hospitality startup OYO is likely to go public and is eyeing between $1 billion and $1.2 billion, which is approximately between ₹7,300₹8,800 crore. 

According to reports, this will consist of a fresh issue of shares and an offer for sale from existing shareholders. After Zomato, CarTrade, Paytm, PolicyBazaar, Nykaa, and Mobikwik, Oyo would be the seventh Indian tech unicorn to roll out an IPO. While Zomato and CarTrade have already rolled out their IPOs, the others have filed papers with SEBI.

Oyo grappled with an existential crisis during the COVID-19 pandemic. It laid off staff and instituted salary cuts to stay afloat. The SoftBank-backed startup has appointed bankers and lead book managers for its listing, and is expected to file its draft red herring prospectus (DRHP) by mid-October.