India’s Oyo to file for $1 billion IPO

The seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is planning to raise as much as $1.2 billion in the IPO, banker sources said, requesting anonymity discussing private matters.

The aforementioned terms could slightly change in the next few days and the startup may take an additional few days to file the paperwork, the people said.

Oyo, which recently raised about $5 million in a strategic investment from Microsoft, operates in nearly three dozen countries.

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