CORPORATE
OYO set to file draft IPO papers in November, eyes valuation of $7-8 billion
- IBJ Bureau
- Aug 26, 2025
Global travel technology company OYO is preparing to file its draft red herring prospectus (DRHP) in November, targeting valuation of $7-8 billion for its long-anticipated initial public offer (IPO).
The company is expected to present the proposal to its board next week. “While we cannot comment on any timelines related to OYO’s DRHP or IPO plans, since such decisions will be guided by the company’s board of directors, OYO continues to evaluate a range of strategic options to drive value for its stakeholders,” the company’s spokesperson has said.
According to sources, discussions with key banking partners – including Axis, Citi, Goldman Sachs, ICICI, JM Financial and Jefferies in London – have gathered momentum in recent weeks. Valuation has now been pegged at $7-8 billion (around Rs 70 per share), potentially implying a multiple of 25 to 30 times EBITDA.
“The filing with regulators is being considered for November. After assessing market sentiment, OYO and its largest shareholder SoftBank are now confident about proceeding. The board will be approached next week as details are finalised,” a person close to the discussions has added.
The prospective filing is expected to highlight OYO’s Q1 financial performance, which insiders describe as a period of strong growth and improved fundamentals, amid double-digit expansion across the wider hospitality industry.
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