OYO IPO News

The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at ₹29, consistent with the valuation of the recent raise in Series G. 

As per existing SEBI regulations, the company will need to revise its filings with the regulator. 

Explaining the rationale for filing through the pre-filing route, a source said, "The market continues to be highly volatile globally and to an extent in India as well.

IPO-bound OYO announces job cuts by laying off hundreds of employees. The downsizing in tech is also happening in teams which were developing pilots and proof of concepts such as in-app gaming, more. OYO will downsize 10 per cent of its 3700-employee base, which includes fresh hiring of 250 members.

OYO valuation dips $6.5 billion following main investor Softbank markdown. Company's one share price falls to Rs 81 from Rs 94 by 13%. OYO has already filed preliminary papers with SEBI to raise Rs 8,430 crore via IPO.

OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.

The listing plan follows a stellar debut by food delivery firm Zomato Ltd in July. Nykaa have also filed for IPO. Ride-hailing firm Ola. Oyo, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs.

The Ritesh Agarwal-run hospitality chain has included Airbnb, Chinese ride-hailing giant Didi Chuxing and ride-hailing firm Grab as strategic investors. OYO is the first Indian startup to be publicly rated by Moody's and Fitch, two of the leading international rating agencies.