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Oyo Considers Cutting IPO Size By Almost 50%: Report

The startup had filed for an initial public offering last year

Oyo, is considering slashing its fundraising target by half or even shelving the debut, according to reports.

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The startup had filed for an initial public offering (IPO) last year.

Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd. could clip its IPO from the nearly $1 billion initially sought to half that, Bloomberg has reported citing people close to the matter.

It’s considering also halving its expected valuation from the $12 billion originally targeted, they said. 

Oyo could even decide to suspend its IPO plans.
 

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