Oravel Stays Seeks $703 Million India IPO With 100% Fresh Share Sale
Updated
Updated · Bloomberg · Jun 30
Oravel Stays Seeks $703 Million India IPO With 100% Fresh Share Sale
2 articles · Updated · Bloomberg · Jun 30
Summary
Oravel Stays filed updated papers for an India IPO that could raise as much as 66.5 billion rupees, or about $703 million, reviving a closely watched listing for OYO’s parent.
The offer is structured entirely as a fresh issue of shares, with no existing shareholders selling stock in the deal, according to its filing with India’s market regulator.
A pre-IPO placement of up to 13.3 billion rupees remains possible and would cut the eventual size of the public offering.
SoftBank-backed Oravel is returning to the market with one of India’s more prominent pending IPOs in the travel and technology space.