OYO’s $1-1.2 billion initial public offering (IPO) will have around 20-25 percent secondary component. However, founder Ritesh Agarwal is unlikely to dump any stake, consistent with sources aware about the event .

Agarwal has over 30 percent stake within the company.

The company which was last valued at $9 billion is targeting a valuation of around $12-14 billion.

The Softbank-backed hospitality firm is ready to file for an IPO as early because the next week, Moneycontrol reported on September 23.

In July, Moneycontrol first reported that the corporate was aspiring for an IPO by the top of 2021.

The company which has been recovering from the pandemic has completely changed its model to revenue share as compared to the sooner one where it might pay the hotel partners a minimum guarantee to figure with OYO.

It is also heavily that specialize in technology and recently announced a partnership with global tech giant Microsoft to develop smart room experiences for travelers like customized in-room experiences.

The partnership happens along side a strategic investment of $5 million from Microsoft within the company.

The company has also launched a self check in service which might allow hotel owners to travel survive the platform in half-hour . The move is predicted to prop up the amount of hotels on the platform which saw a huge decline due to the pandemic.