Oyo may back out of IPO plan, opt for private raise

“The company has been discussing this (withdrawal) for some time now and it’s near imminent and all key stakeholders have been informed,” one of the people cited above said. Instead of raising public funds, Oyo has begun conversations with private market investors to raise new cash in the coming six-eight months, the sources added. In response to ET’s queries, Oyo dismissed the information as “inaccurate”.