My Hospitality and travel technology company OYO, which is preparing to launch an initial public offering (IPO), has suffered a major setback. The valuation of the company in the private market has fallen to around $6.5 billion. In the week ended September 30 this year, about 1.23 lakh shares of the company were sold in the private market as against 1.6 lakh shares sold in the previous week. A source said investors started selling Oyo shares after its largest investor, SoftBank, slashed the hospitality platform’s valuation by 20 per cent on its books to $2.7 billion.
investors started selling shares
Due to this, after Oyo’s financial report came out last month, the company’s share price in the private market had…