According to people familiar with the matter, Oravel Stays Ltd., the parent company of SoftBank Investment and travel platform OYO, was boycotted by investors in terms of IPO valuation. This is another Indian startup whose pricing has been questioned. People familiar with the matter, who did not wish to be named, said that investors intended to value about 250 billion rupees before investing, while the company originally expected to reach 400 billion rupees. The Press Trust of India reported this week that the company has cut the planned fundraising scale from 66.5 billion rupees to about 33.5 billion rupees. According to people familiar with the matter, Oravel is conducting an investor roadshow and aims to launch an IPO as early as November. Relevant negotiations are still ongoing, and details such as valuation, fund-raising scale, and listing time are still subject to change. An OYO spokesperson did not respond to requests for comment.

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