Global hospitality and travel tech firm OYO is preparing to file its Draft Red Herring Prospectus (DRHP) in November, targeting a public listing at a valuation of USD 7–8 billion.

The proposal is expected to be presented to the company’s board next week. “The filing with regulators is being considered for November. After extensive discussions with banking partners including Axis, Citi, Goldman Sachs, ICICI, JM Financial and Jefferies, confidence around valuation has strengthened,” an OYO spokesperson said.

SoftBank, the company’s largest shareholder, has been actively engaging with investment banks to assess market sentiment. The current valuation guidance stands at USD 7–8 billion (around Rs 70 per share), which translates to 25–30 times EBITDA.

OYO plans to highlight its latest Q1 financials in the filing, underscoring strong growth momentum and improved fundamentals. The move comes at a time when the wider hospitality sector is posting double-digit growth.

Alongside the IPO preparations, OYO is also working on a new parent brand identity to unify its portfolio. Earlier this year, CEO Ritesh Agarwal invited suggestions for renaming its parent entity, Oravel Stays Limited, and the chosen brand is expected to be unveiled soon.

The company is further exploring a dedicated app for its premium and mid-market hotel segment, which has seen rapid traction in both domestic and overseas markets.