Oyo to meet bankers next week for third IPO attempt; eyes $5–7 billion valuation
Oravel Stays, the parent of hospitality firm Oyo, is set to formally invite pitches from merchant bankers next week as it gears up for a third attempt at an initial public offering (IPO), people familiar with the matter told ET. “Oyo’s management has been holding informal discussions with bankers over the past month and is now moving to formally hear proposals,” one person aware of the matter said. “Some banks have floated a potential valuation as high as $10 billion, but Oyo’s internal expectations are more grounded, in the $6–7 billion range.” The company is in talks with both Indian…