SoftBank-backed Oyo aims for up to $12 billion valuation in India IPO

FILE PHOTO: The logo of OYO, India's largest and fastest-growing hotel chain, is seen installed on a hotel building in New Delhi, India, April 3, 2019. REUTERS/Adnan Abidi/File Photo

BENGALURU (Reuters) -SoftBank-backed Indian hotel aggregator Oyo Hotels is seeking a valuation of $10 billion to $12 billion, a source close to the matter told Reuters, as it filed for a local listing that could be the first for a hospitality firm since 2019.

The aggregator, which Japanese conglomerate SoftBank counts among its biggest bets, had hinted at an initial public offering (IPO) in 2019 shortly before the pandemic battered the travel industry.