Oyo Hotels and Homes, the country's largest hotel chain, may go public in the next two-three years, Livemint reported, citing two people aware of the development.
One of the sources, directly associated with the firm, said that over the last few months, IPO has been an integral part of all investor conversations, the report said.
“The intent is to go public in two-three years and the company is taking several steps towards this major goal," the person was quoted as saying in the report.
If and when Oyo, the second most valued startup after One97 Communication's Paytm, launches an initial public offering, it is expected to be valued at $18 billion, four non-Oyo investors told the paper.
Oyo may pick an overseas bourse to list the company, the report said, citing another source.
In the latest round of funding, the hotel chain raised $800 million from SoftBank’s Vision Fund, along with other existing investors such as Sequoia Capital, Lightspeed Venture Partners and Greenoaks Capital, besides a commitment to pump in an additional $200 million. After the funding, the company was valued at nearly $5 billion, six times more than its 2017 valuation.
A query sent to Oyo on Monday was left unanswered until print time.