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IPO

SoftBank-backed Oyo files for $1.1bn India IPO

Vision Fund to cut stake after hotel startup reveals 69% fall in revenue

Indian hotel startup Oyo is planning a $1.1bn fundraising on local stock markets. SoftBank Group’s Vision Fund holds a 46.6% stake in the company. (Source photos by Reuters and screenshot from Oyo's website) 

TOKYO -- Oravel Stays, the Indian hotel startup known as Oyo, is planning to raise up to 84.3 billion rupees ($1.1 billion) in an initial public offering on local stock exchanges.

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