New Delhi, 1/10: Hospitality sector major OYO has submitted necessary documents to capital markets regulator SEBI to raise around Rs 8,430 crore ($1.2 billion) through public offering (OYO IPO). Oyo will use the proceeds from the IPO to pay off debt and expand the company. Oyo founder Ritesh Agarwal will not sell any stake in the IPO. Agarwal holds about 34 per cent stake in the company. Apart from this, investors like Lightspeed Venture Partners, Sequoia Capital, Star Virtu Investment, GreenOaks Capital and Microsoft will also not sell their stake.
What will be the IPO price?
In the offer for sale, shares will be sold by SoftBank, A-One Holdings, China Lodging and Global IVY Ventures. The company’s public offer can come in early 2022. In this, new shares worth Rs 7,000 crore will be issued. Apart from this, there will be an offer for sale (OFS) of Rs 1,430 crore. The price will be decided by the company and its stakeholders when the pre-IPO placement takes place.