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Microsoft looks to tap into Oyo before its potential IPO: Report

The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said

Oyo, Oyo rooms
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The deal may involve Oyo shifting to use Microsoft's cloud services, TechCrunch reported earlier on Thursday, citing people familiar with the matter | Photo: Shutterstock

Reuters
Microsoft Corp is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday.

The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said.

Founder and Chief Executive Officer Ritesh Agarwal said earlier this month that Oyo would consider a potential public offering, but did not provide a timeline.

The deal may involve Oyo shifting to use Microsoft's cloud services, TechCrunch reported earlier on Thursday, citing people familiar with the matter. 

Oyo is one of India's

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First Published: Jul 30 2021 | 8:28 AM IST

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