Oyo Speeds Up IPO Plans as Founder Debt Repayment Date Looms (1)

India’s Oyo Hotels is speeding up plans for an initial public offering, as an important year-end debt repayment deadline approaches.

Creditors, including Mizuho Financial Group Inc., insist that founder Ritesh Agarwal pays off a $383 million portion of a multibillion-dollar loan package if the startup doesn’t have an IPO by October, people familiar with the matter said. Lenders want clear visibility on Agarwal’s liquidity and will potentially allow him to delay the repayment until 2027 only if Oyo lists this year, they said, asking not to be named as the matter is private.

Agarwal, 31, borrowed $2.2 billion in ...