Oyo Hotels targets $9-billion valuation in IPO; may get Sebi nod soon

Oyo Hotels is eyeing a valuation of about $9 billion (Rs 66,700 crore) in its initial public offering after preliminary conversations with potential investors, according to people familiar with the matter. 

The SoftBank Group-backed start-up is expected to get the green light to proceed with the offering this week or next after filing preliminary documents last year, said the people, asking not to be named because the talks aren’t public. A formal roadshow will begin after regulatory approval and determine final pricing. 

The valuation Oyo is targeting would be lower than the $12 billion (Rs 88,000 crore) initially reported in local media