Oyo Postpones IPO Plans Again Amid SoftBank Opposition

Oyo Hotels has postponed its initial public offering (IPO) for the third time, now targeting a potential listing in March 2026, after facing opposition from its largest shareholder, SoftBank, and ongoing market volatility. SoftBank, which holds a significant stake in Oyo, has urged the company to delay the IPO until its earnings improve, citing concerns that a premature listing could undermine investor confidence and board approval. The company had previously aimed for a valuation of up to $12 billion but is now eyeing a reduced valuation of around $7 billion for the rescheduled IPO. Oyo's founder, Ritesh Agarwal, has been advocating for a quicker IPO to help meet repayment terms on a $2.2 billion loan, personally guaranteed by SoftBank's founder Masayoshi Son. Lenders have indicated they might extend the loan repayment deadline if the IPO occurs soon, and SoftBank may facilitate this extension in exchange for the delay. Market instability has impacted other Indian IPOs as well, with companies like LG Electronics' Indian unit and Ather Energy also postponing or scaling back their offerings.