By IndiaHub 
Sources said the banks include Goldman Sachs, Citi, and Jefferies from the global banking consortium, alongside ICICI Securities and Axis Capital representing Indian financial institutions. Oyo did not respond to queries seeking comments on the matter.
The people cited above said the meeting is scheduled to take place at SoftBank’s London office on Grosvenor Street, where the banks will present their IPO strategies to SoftBank.
Oyo founder Ritesh Agarwal and his senior leadership team will also participate in the discussions.
People familiar with the matter said SoftBank, which remains one of Oyo’s largest shareholders, is keen to understand the expected valuation metrics, and investor appetite for the anticipated public offering.
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In an email to Oyo’s senior leadership in March, founder Ritesh Agarwal had said Oyo is on track to achieve an over 60% year on year revenue growth in quarter four of financial year 2025 at over Rs 2100 crore. ET had seen a copy of the email.”A key contributor to this performance has been the integration of G6 Hospitality, adding Rs 275 crore to our revenue,” stated Agarwal in his email. “Even without G6, our revenue stands strong at Rs 1886 crore, demonstrating robust organic growth of 42%,” he added. Agarwal said looking forward, the company expects a profit after tax of Rs 1100 crore for financial year 2026, and an EBITDA of Rs 2000 crore. He attributed the success to the company’s performance in ‘core markets’ such as India and the US along with ‘significant’ contributions from emerging markets in the South East Asia and the Middle East.
The renewed IPO push comes after Oyo had previously filed and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021, seeking to raise Rs 8,430 crore through a public offering. The company finally withdrew those papers in 2024.