Third time lucky? Oyo eyes $7 billion IPO
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Mumbai: Oyo has begun discussions with bankers for a potential IPO in the March 2026 quarter, making its third attempt at going public after weak markets and the company's focus on turning in a profit delayed the startup's listing plans, initially started in 2021.
The firm is eyeing a valuation of $6-7 billion for the IPO, sources said, adding that the company plans to file draft IPO papers with Sebi by Sept. "Since its initial IPO attempt, Oyo has undergone significant change, focusing on profitability and sustainable growth. The company's improved financial metrics and operational efficiency have renewed investor confidence, prompting the fresh attempt at going public," sources told TOI.
Oyo declined to comment. Oyo is set to hold key discussions on the IPO process with the company's board and largest shareholder SoftBank's representatives next month. Japan's SoftBank holds over 40% stake in the Gurgaon-based startup led by Ritesh Agarwal.
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