India, Aug. 25 -- Amid the ongoing startup IPO boom, hospitality major OYO is now reportedly planning to file its draft red herring prospectus (DRHP) in November.

As per PTI, the Ritesh Agarwal-led startup is targeting $7-8 Bn valuation for its initial public offering (IPO).

Besides, sources also told the publication that it is likely to take the proposal for its IPO to its board by next week.

The startup didn't officially confirm the development. "While we cannot comment on any timelines related to OYO's DRHP or IPO related plans, since it's a decision that will be guided by OYO's board of directors and will be solely at their discretion. For now, OYO continues to evaluate a range of strategic options to drive value for its stakeholde...