Oyo is ready to explore the public markets. The eight-year-old Indian budget hotel giant has filed the paperwork (PDF) with the local market regulator for an initial public offering, in which it is seeking to raise about $1.16 billion.
The Gurgaon-headquartered startup — which offers an operating system of sorts to help hoteliers accept digital bookings, payments and determine the best pricing for a room, and integrates with third-party booking services — is seeking to raise about $942 million through sale of new shares, while the rest is set aside for sales of existing shares (secondary transaction).
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