IPO-bound OYO valuation dips in private market after reported markdown by investor SoftBank

Mumbai, 5/10: The valuation of IPO-bound OYO in the private market has dipped to around $6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players.

In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week.

The sell-off followed reports that its largest investor SoftBank has cut the valuation of the hospitality platform by 20 per cent to $2.7 billion in its books, said a source.