BENGALURU :Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd is cutting the shares it plans to sell via an initial public offering by about two-thirds as tech valuations plunge, Bloomberg News reported on Monday, citing people familiar with the matter.The company had initially filed to go public in October 2021 but delayed the share sale due to market conditions.
The company has continued to report losses, and in December said it is cutting 600 jobs in its corporate and technology departments.
Source: Holiday News (holidaynews.net)
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