Five Banks to Present OYO’s IPO Proposal to SoftBank in London Next Month

Global travel-tech giant OYO is gearing up for a key meeting with its major investor, SoftBank, where five leading investment banks will present the company’s IPO roadmap, according to sources familiar with the matter. The meeting, scheduled for June at SoftBank’s London office on Grosvenor Street, could play a pivotal role in shaping the timing and structure of OYO’s much-anticipated public offering.
The presenting banks include international players like Citi, Goldman Sachs, and Jefferies, alongside Indian institutions ICICI Securities and Axis Capital. Their goal is to communicate OYO’s market positioning, valuation expectations, and projected investor sentiment to SoftBank executives.
SoftBank, which remains one of OYO’s largest shareholders, is seeking deeper insights into the company’s growth strategy, especially in the context of its IPO. The session will be attended by Sumer Juneja, SoftBank’s India head, OYO founder Ritesh Agarwal, and his senior leadership team.
Insiders say SoftBank’s support will be instrumental in finalizing the IPO timeline, considering its substantial equity stake in OYO. A source close to the discussions mentioned that SoftBank remains optimistic about OYO’s progress, particularly its debt-reduction plans through proceeds from the IPO, which could significantly boost earnings per share.
OYO aims to dilute approximately 10% of its equity in the offering, combining both primary and secondary components to ensure minimal dilution. With the company now cash-generating and meeting financial targets like EBITDA and gross booking growth, the IPO conversation has moved from exploratory to executional over the past month.
According to previous PTI reports, OYO is expected to file its Draft Red Herring Prospectus (DRHP) between August and September 2025. The company is still weighing the ideal timing—whether to go ahead based on FY25 results or wait for a stronger performance in H1 FY26.
OYO plans to launch its IPO in the final quarter of FY25, leveraging a more favorable market environment and its own operational revival. This marks a renewed push after the company initially filed to raise ₹8,430 crore in 2021 but withdrew its papers in early 2024.
OYO has since realigned its global footprint and solidified its presence in key regions including India, the US, Europe, and Southeast Asia. Improved financial metrics and streamlined operations have reportedly restored investor confidence and bolstered the company’s readiness to go public.
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