SoftBank reduces OYO’s book value by 20%

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Global tech investor SoftBank said to have reduced the value of its stake in IPO-bound hospitality major OYO by 20% to $2.7 billion on its books at the end of the June quarter.

According to Bloomberg, the Japanese investor compared OYO to peers with similar operations and reduced the valuation from the previous $3.4 billion. OYO was last valued at $9.6 billion in 2021, after Microsoft invested $5 million in the budget hotel chain. According to its draught red herring prospectus (DRHP), SoftBank owns nearly 47% of OYO, which translates to around $4.4 billion at the company’s 2021 valuation. According to Bloomberg, the hospitality giant is expecting approval from the Securities and Exchange Board of India for its much-anticipated public debut soon, and the startup is targeting a valuation of $5 billion for its initial public offering (IPO) early next year.

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SoftBank reduces OYO’s book value by 20%

Global tech investor SoftBank said to have reduced the value of its stake in IPO-bound hospitality major OYO by 20% to $2.7 billion on its books at the end of the June quarter.

According to Bloomberg, the Japanese investor compared OYO to peers with similar operations and reduced the valuation from the previous $3.4 billion. OYO was last valued at $9.6 billion in 2021, after Microsoft invested $5 million in the budget hotel chain. According to its draught red herring prospectus (DRHP), SoftBank owns nearly 47% of OYO, which translates to around $4.4 billion at the company’s 2021 valuation. According to Bloomberg, the hospitality giant is expecting approval from the Securities and Exchange Board of India for its much-anticipated public debut soon, and the startup is targeting a valuation of $5 billion for its initial public offering (IPO) early next year.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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