Oyo Considers Cutting IPO Size By Almost 50%: Report

Oyo, is considering slashing its fundraising target by half or even shelving the debut, according to reports.

The startup had filed for an initial public offering (IPO) last year.

Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd. could clip its IPO from the nearly $1 billion initially sought to half that, Bloomberg has reported citing people close to the matter.

It’s considering also halving its expected valuation from the $12 billion originally targeted, they said. 

Oyo could even decide to suspend its IPO plans.