New Delhi: Up to 20-25 per cent secondary dilution is expected in Oyo’s impending $ 1 billion IPO, people familiar with the matter said. Existing investors such as Airbnb and Greenoaks Capital are unlikely to divest their stakes besides founder Ritesh Agarwal, they added.
“Ritesh holds roughly 33 per cent stake and would not be diluting. The large institutional investors would also dilute very little. About 75-80 per cent will be fresh equity or primary issuance. Most investors could substantially stay on board,” said a person familiar with the matter, while another added: “Airbnb and Greenoaks Capital are unlikely to divest their stakes.”
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