Softbank-backed Indian hotel aggregator Oyo Hotels and Homes
Pvt Ltd has submitted a confidential "pre-filing" document for
an initial public offering, a source close to the company said
on Friday.
The company had initially filed to go public in October
2021, but delayed the share sale at that time. The confidential filing option, introduced by the
Securities and Exchange Board of India last year, would give the
company flexibility on the size of its share issue and the
timing of the IPO, the source said.
The company is now aiming for an IPO size of $400-$600
million, according to the source, who said the plan is to list
later this year, closer to the Indian festival of Diwali.
A spokesperson for Oyo, officially known as Oravel
Stays, declined to comment when contacted by Reuters.
(Reporting by Manas Mishra in Bengaluru; Editing by Shounak
Dasgupta and Dhanya Ann Thoppil)
