OYO will be issuing 75-80% primary shares and 20-25% secondary shares, as no major investors will be diluting their stakes in its upcoming IPO, YourStory reported. Reports earlier claimed that OYO Founder Ritesh Agarwal, who holds over 30% stake in Oravel Stays, isn't planning on offloading any stake. OYO is expected to raise up to $1.2 billion through the IPO.