Oravel Stays Ltd., the SoftBank Group Corp.-backed company that operates Oyo Hotels, has hired several banks to arrange an initial public offering that may fetch as much as $800 million in Mumbai, according to people familiar with the matter.The company, commonly known as Oyo, is working with Axis Bank Ltd., ICICI Securities Ltd., as well as the Indian units of Goldman Sachs Group Inc. and Citigroup Inc. on the share sale, the people said, asking not to be identified as the information is private. It’s like ...

This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: OYO parent company Oravel Stays has rebranded to Prism to “reflect the company’s expanded global portfolio and long-term vision,” the company announced in a Monday news release. The name Prism represents “clarity, diversity, and the full spectrum of brands within the company’s ecosystem,” including hotel brands OYO, Townhouse, Sunday and Palette, accordi ...