The listing plan by the hotel aggregator follows a stellar
debut by food delivery firm Zomato in July.
Berkshire Hathaway-backed Paytm and private equity firm
TPG-backed Nykaa have also filed for IPO.
Ride-hailing firm Ola, which is also backed by SoftBank , is
also set to enter markets.
The Oyo IPO, tentatively pegged at between US$1 billion and
US$1.2 billion, will consist of a fresh issue of shares and an offer for sale from
existing shareholders, ET reported.
Oyo did not immediately respond to a Reuters request for
comment.
The startup, in which SoftBank owns a 46 per cent stake and
is one of its biggest bets, has endured months of layoffs, cost-cuts and losses
during the global health crisis.
Its founder and chief executive Ritesh Agarwal had said in
July that business was likely to return to levels seen before the second wave
of Covid-19 infections in India and "grow from there".
Last month, Oyo received a US$5 million investment from
Microsoft. Separately, a financial news website reported that it had
shortlisted JPMorgan, Kotak Mahindra Capital and Citi for a more than US$1.2
billion initial share sale. -Reuters