Softbank-backed Indian hotel aggregator Oyo Hotels seeks a valuation of upto $12 billion

Oyo Hotels have filed for a local listing, seeking a valuation of $10 billion to $12 billion that could be the first for a hospitality firm since 2019. The initial public offering (IPO) comes as travel restrictions are being alleviated worldwide and the tourism sector sees a rebound, with stuck-at-home people heading out on vacations.
The offering will consist of a fresh issue of shares of up to 70 billion rupees and an offer for sale of as much as 14.30 billion rupees, as per a copy of its draft red herring.