Upcoming IPO: OYO may file draft papers in November, says report; what we know so far

The company is likely to put forward the IPO proposal in front of its board next week, the report said. The company's spokesperson declined to comment on the IPO's timeline but said that the decision will be guided by OYO's Board of Directors.

When is the OYO IPO expected to launch?

"Over the past few months, SoftBank has engaged with banks such as Axis, Citi, Goldman Sachs, ICICI, JM Financial, and Jefferies in London to assess market sentiment. After assessing market feedback, they are now confident in their decision. The board will be approached next week as the company firms up the details and finalises key strategic elements," the person said.

SoftBank remains one of OYO's largest shareholders. Insiders indicate that the prospective filing will showcase OYO's latest Q1 financial performance, capitalising on a period of strong growth and improved fundamentals.

This has also been a double-digit growth quarter for the hospitality industry with strong tailwinds.

OYO is working on the rollout of a new parent brand identity that will unify its expanding portfolio.

Earlier this year, OYO founder and CEO Ritesh Agarwal sought name suggestions for its parent entity, Oravel Stays Limited, via his social media platforms.

The name chosen through the exercise may end up being the new name of the group.

On the business front, OYO is looking to launch a separate application for its premium hotels and mid-market to premium company-serviced hotels, as the segment has seen exponential growth across India as well as its global markets.