5 men were injured in the incident on Marlborough Road.
One victim needed surgery on a broken jaw and nose after the attack in the early hours of Saturday (31/08)
Two others sustained head injuries and were also taken to hospital.
Another was left with facial injuries and the fifth victim broke a thumb.
Thames Valley Police is now appealing for witnesses.
The force says the attack happened at around 4.10am and the victims were aged between 19 and 28.
The offenders were all male.
One is described as white, aged in his twenties and around 6ft 2ins tall with a skinny build. He had a beard and wore glasses.
Another offender is described as white, also aged in his twenties. He was around 5ft 8ins tall with an average build. He had dark hair and was dressed in a green khaki tracksuit.
Investigating officer, PC Katie Rhodes, of Banbury police station, said: “This was a nasty attack on the group of victims, with injuries being sustained requiring hospital treatment.
“I am appealing to anyone who was in or near this area, the junction of Marlborough Road and Marlborough Place, and believes they saw anything to speak to police.
“I am also appealing to a group of people who helped the victims following the assault. If you believe you were one of these people then please come forward and speak to police."
Reports can be made by calling 101 and quoting 43190268829,.