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Oyo Hotels angles for an IPO upgrade

A budget lodging group is aiming for premium accommodation in the public market. Revenue at India’s Oyo Hotels and Homes collapsed 69% last year, forcing the company to curtail its dizzying global expansion plans and restructure the business model. An initial public offering at a mooted $11 billion would be a small upgrade from its peak pre-pandemic valuation and imply a lot of faith in young founder Ritesh Agarwal and in a travel rebound. ....

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