India, Sept. 21 -- Oura, the company behind the Oura smart ring, has started its IPO roadshow in the US. The company is targeting a fully diluted valuation of about $15.62 billion. The IPO is expected to happen next week, with Oura planning to list on the Nasdaq under the ticker "OURA." Goldman Sachs, Morgan Stanley and J.P. Morgan are leading the IPO.

Oura and some of its existing investors plan to sell as many as 50 million shares. The expected price is $40 to $44 per share. At the top end of that range, the offering could raise around $2.2 billion. The $15.62 billion valuation includes the impact of shares that could be issued or converted as part of the offering, according to Reuters.

Oura is betting that investors will continue to ...