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Oravel Stays Ltd, the parent company of hospitality startup Oyo, is set to formally hear proposals from merchant bankers next week as it prepares to launch a renewed attempt at an initial public offering, according to multiple sources familiar with the matter.
“Oyo management has held informal discussions with bankers over the last month, and is now formally inviting pitches,” one of the persons said. “During the preliminary discussions, some bankers proposed that the company could get valued as high as $10 billion for its public issue but the…
