SoftBank-backed Oyo to target $9-bn valuation in IPO: Report

The valuation Oyo is targeting would be lower than the $12 bn initially reported last year, which reflects Oyo's financial struggles and a more measured appetite for IPOs following Paytm debacle

Oyo Hotels, the once hard-charging Indian startup that struggled during the pandemic, is eyeing a valuation of about $9 billion in its initial public offering after preliminary conversations with potential investors, according to people familiar with the matter. 
 

The SoftBank Group Corp.-backed startup 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