Oyo is also preparing to bring IPO. SoftBank holds 46% stake in the company. The company will try to strengthen its business by raising money from the issue.
Oyo IPO: India’s hospitality startup company Oyo Hotels and Rooms can submit applications for IPO next week. Reuters has learned from sources that the company plans to raise $ 1.2 billion, or about Rs 8000 crore, from the issue. The source said that this will include an offer for sale (OFS) along with a fresh issue. However, there has been no response from Oyo in this matter.
SoftBank holds 46% stake in Oyo. The company will try to strengthen its business by raising money from the issue. The company has been in constant trouble for the last few months due to the spread of coronavirus infection and lockdown. The company’s health has been badly affected due to frequent layoffs, cost cutting, losses and weakening economy around the world.
The company’s founder and chief executive Ritesh Aggarwal said in July that the company’s business is about to reach the state before the second wave of coronavirus infections. Last month, Oyo received $5 million funding from Microsoft Corp., Kotak Mahindra Capital, JP Morgan and Citi are issue advisors to the company.
After the tremendous listing of Zomato in July this year, many companies have planned to bring IPO. Paytm, backed by Berkshire Hathaway Inc., is also going to launch the issue in November this year. At the same time, private equity firm Nykaa is also preparing to bring IPO.
Today is the last day of Paras Defense IPO
Today is the last day of Paras Defense IPO. This IPO will close today. After opening the issue of this company in the defense sector, it was fully subscribed within minutes. Paras Defense has launched an IPO of Rs 171 crore. Out of this, fresh issue worth Rs 140.6 crore has been issued while shares worth Rs 30 crore have been sold in Offer for Sale (OFS).
The issue price of the company is Rs 165-175. While its premium is running at Rs 210 in the gray market. According to this, the unlisted share of Paras Defense is trading at Rs 385 (175 + 210) in the gray market.
