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SoftBank-Backed Oyo Seeks to Resurrect IPO as Growth Resumes

  • Hotel-booking startup targets stock-market debut in early 2023
  • Sales growth picking up, losses shrinking as pandemic eases
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Oyo Hotels, the once high-flying Indian startup, is reviving plans for a stock-market debut after cost cuts and a recovery in travel helped it reduce losses.

The hotel-booking company filed fresh financial documents on Monday and is now targeting an initial public offering in early 2023 provided that India’s stock market continues to hold up and economic conditions improve, according to people familiar with the matter. Oyo, formally known as Oravel Stays Ltd., is internally working toward a January IPO as executives are encouraged by a pick-up in demand, they said, asking not to be named discussing confidential plans.