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‘SoftBank cuts OYO valuation by over 20%’

The Japanese investor, the largest shareholder in OYO, cut its estimated value for the firm to $2.7 billion in the June quarter from an earlier $3.4 billion after benchmarking it against peers with similar operations, the report said.

oyo, oyo rooms, Softbank, Initial Public Offering, Business news, Indian express business news, Indian express, Indian express news, Current AffairsThe downgrade comes at a time when the hotel aggregator is eyeing initial public offering (IPO) early next year.

Japan’s SoftBank has cut the valuation of OYO Hotels on its books by over 20 per cent, Bloomberg reported Thursday, citing sources. The downgrade comes at a time when the hotel aggregator is eyeing initial public offering (IPO) early next year.

The Japanese investor, the largest shareholder in OYO, cut its estimated value for the firm to $2.7 billion in the June quarter from an earlier $3.4 billion after benchmarking it against peers with similar operations, the report said. OYO’s valuation had reached $10 billion in a 2019 funding round.  FE

First published on: 23-09-2022 at 03:28:47 am
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