India’s Oyo mulls cutting IPO size amid tech headwinds – Bloomberg News

BENGALURU (Reuters) – Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd is cutting the shares it planned to sell via an initial public offering (IPO) by about two-thirds as tech valuations plunged, Bloomberg News reported on Monday, citing people aware of the matter.

The company is preparing to file a fresh IPO document as soon as this week, Bloomberg reported.

Oyo did not immediately respond to Reuters’ request for comment.

(Reporting by Varun Vyas in Bengaluru)