Latest news with #OYO
The Hindu
4 days ago
- Business
- The Hindu
OYO founder Ritesh Agarwal invites name suggestions for its parent firm Oravel Stays
OYO founder Ritesh Agarwal has invited name suggestions for its parent firm Oravel Stays, in a strategic move as the global travel tech platform prepares to launch its Initial Public Offering (IPO) and looks to have more premium segment offerings. 'There is a high possibility that the name chosen through the exercise may end up being the name of the premium hotels app that OYO has been working to launch in the near future,' people familiar with the strategy told PTI. Mr. Agarwal took to social media platforms to seek name suggestions to help craft a "new identity". "We're renaming the corporate brand behind it all. Not the hotel chain, not a consumer product — but the parent company powering a global ecosystem of urban innovation and modern living. We believe it's time the world had a new kind of global brand — born in India, but built for the world," the OYO founder said in the post on Thursday (May 29, 2025). How often does a global company ask the world to name it? That's exactly what we're doing. OYO started over a decade ago with a simple idea of upgrading quality living space across and drive standardisation. Since then, we've grown from a single room in India to a network of… — Ritesh Agarwal (@riteshagar) May 29, 2025 Mr. Agarwal shared that it should be a bold, one-word corporate name, global in feel, not tied to one culture or language, tech-forward, sharp, but also human and memorable, and broad enough to grow beyond hospitality, preferably with a .com domain available. He offered a prize of ₹3 lakh to the winner along with a chance to meet him. PTI had reported that OYO has arranged for five investment banks to give a crucial presentation to its key shareholder SoftBank in June at the latter's London office on Grosvenor Street, that could determine the company's path to public listing, as it eyes launching an IPO in the last quarter of the current fiscal. "OYO is actively exploring launching a separate app for its premium hotels and mid-market to premium company-serviced hotels as the segment has seen exponential growth across India as well as its global markets. There is a very high possibility that the name being selected may end up being the name of the premium hotels app that OYO has been working to launch in near future," said people familiar with the matter.
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Business Standard
5 days ago
- Business
- Business Standard
Five banks set to present OYO's IPO plans to SoftBank in London next month
Global travel-tech unicorn OYO has arranged for five investment banks to meet its key shareholder SoftBank in June, in a crucial presentation that could determine the company's path to public listing, sources said. The banks include Citi, Goldman Sachs and Jefferies from the global banking consortium, alongside ICICI Securities and Axis Capital representing Indian financial institutions. SoftBank, which remains one of OYO's largest shareholders, is interested in understanding the key positioning strategies, expected valuation metrics and anticipated investor appetite for the offering. The high-stake meeting is scheduled to take place at SoftBank's London office on Grosvenor Street, where the banks will present their IPO strategies to SoftBank's Sumer Juneja. OYO founder Ritesh Agarwal and his senior leadership team will also participate in the discussions, sources close to the development told PTI. The Japanese conglomerate's view is considered important for the IPO's timing, given its significant stake in the hospitality startup. "SoftBank is positive on their portfolio companies such as OYO which have shown strong performance. For OYO, the raising of primary issuance will lead to a sharp increase in its Earnings per Share by using the proceeds to prepay some of its debt," shared a person close to the development. OYO is targeting a share dilution of 10 per cent in the proposed public offering, through a combination of primary and secondary components to ensure lowest possible dilution, since the company is already generating cash, the person added. According to sources, SoftBank has been encouraging OYO since the last few months to start working actively towards a public listing, since the company has been exceeding the agreed financial milestones such as EBITDA and Gross Bookings growth. The London meeting comes as OYO has intensified its thinking for an IPO over the past month, transitioning from informal discussions to active pitch presentations with major banking institutions. PTI had reported this week that the company is considering filing its draft red herring prospectus (DRHP) between August and September this year. The timing of the filing remains flexible, with OYO weighing whether to proceed with FY25 financial results or wait for H1 FY26 results to strengthen its market position. The company is targeting an IPO launch in the last quarter of the current financial year, positioning itself to capitalise on improved market sentiment and its own operational turnaround. The renewed IPO push comes after OYO had previously filed and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021, seeking to raise Rs 8,430 crore through a public offering. The company withdrew those papers in 2024. In the recent past, OYO has streamlined its global operations while strengthening its presence in key markets, including India, the US, Europe and Southeast Asia. Sources indicated that the company's improved financial metrics and operational efficiency have renewed investor confidence, prompting the fresh attempt at going public.
Mint
5 days ago
- Business
- Mint
Five banks set to present OYO's IPO plans to SoftBank in London next month
New Delhi, May 29 (PTI) Global travel-tech unicorn OYO has arranged for five investment banks to meet its key shareholder SoftBank in June, in a crucial presentation that could determine the company's path to public listing, sources said. The banks include Citi, Goldman Sachs and Jefferies from the global banking consortium, alongside ICICI Securities and Axis Capital representing Indian financial institutions. SoftBank, which remains one of OYO's largest shareholders, is interested in understanding the key positioning strategies, expected valuation metrics and anticipated investor appetite for the offering. The high-stake meeting is scheduled to take place at SoftBank's London office on Grosvenor Street, where the banks will present their IPO strategies to SoftBank's Sumer Juneja. OYO founder Ritesh Agarwal and his senior leadership team will also participate in the discussions, sources close to the development told PTI. The Japanese conglomerate's view is considered important for the IPO's timing, given its significant stake in the hospitality startup. "SoftBank is positive on their portfolio companies such as OYO which have shown strong performance. For OYO, the raising of primary issuance will lead to a sharp increase in its Earnings per Share by using the proceeds to prepay some of its debt," shared a person close to the development. OYO is targeting a share dilution of 10 per cent in the proposed public offering, through a combination of primary and secondary components to ensure lowest possible dilution, since the company is already generating cash, the person added. According to sources, SoftBank has been encouraging OYO since the last few months to start working actively towards a public listing, since the company has been exceeding the agreed financial milestones such as EBITDA and Gross Bookings growth. The London meeting comes as OYO has intensified its thinking for an IPO over the past month, transitioning from informal discussions to active pitch presentations with major banking institutions. PTI had reported this week that the company is considering filing its draft red herring prospectus (DRHP) between August and September this year. The timing of the filing remains flexible, with OYO weighing whether to proceed with FY25 financial results or wait for H1 FY26 results to strengthen its market position. The company is targeting an IPO launch in the last quarter of the current financial year, positioning itself to capitalise on improved market sentiment and its own operational turnaround. The renewed IPO push comes after OYO had previously filed and refiled its draft papers with the Securities and Exchange Board of India (SEBI) in 2021, seeking to raise ₹ 8,430 crore through a public offering. The company withdrew those papers in 2024. In the recent past, OYO has streamlined its global operations while strengthening its presence in key markets, including India, the US, Europe and Southeast Asia.
Hans India
6 days ago
- Business
- Hans India
OYO begins discussions with banks for IPO
New Delhi: Global travel tech platform OYO has started discussions with bankers for a fresh attempt at IPO, targeting a listing in the last quarter of the current financial year, sources discussions with investment banks have indicated a potential valuation range of USD 6-7 billion for the public offering. The company started informal discussions last month and is now calling for pitches, according to a person familiar with the development. "The company is engaging with both Indian and international banking institutions with plans to potentially file theHP documents between Aug-Sept this year. It is yet to decide whether to file with FY25 financial results or wait till the Q1 FY26 financials are audited and ready for filing," sources told PTI. A crucial round of discussions with the company's board and with its key shareholder, SoftBank's representatives, is scheduled for June in London. "The Board and all shareholders, including SoftBank, are keen for the company to actively evaluate filing an IPO application in the near future due to the swift business turnaround with an estimated Rs 620 crore net profit in FY25," said a source close to the development.
Mint
7 days ago
- Business
- Mint
Third time lucky? OYO restarts early talks with investment banks for IPO attempt
Hospitality tech firm OYO is once again considering launching an initial public offering (IPO), according to two people familiar with the matter. After two unsuccessful attempts, the company will be restarting conversations with investment banks from next week, aiming for a public listing by the final quarter of the current financial year. As part of the early-stage preparations, OYO has begun reaching out to both domestic and international merchant banks, said the second person familiar with the matter. Preliminary talks suggest that the IPO could value the company at between $5 billion and $7 billion. "OYO is currently coordinating with Indian and global banks, and there are tentative plans to submit draft documents to the market regulator between August and September," said the first person in the know. The company is still weighing whether to proceed with financial disclosures for FY25 or wait until audited results for the first quarter of FY26 are finalised. The Press Trust of India reported the development earlier on Tuesday. "There's a broad consensus among shareholders and board members—including SoftBank—that the timing is right to revisit IPO plans, given the company's rapid financial recovery and a projected net profit of around ₹ 620 crore in FY25," said the first person with direct knowledge of the matter. OYO first filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in October 2021. It aimed to raise ₹ 8,430 crore (approximately $1.2 billion) through a combination of fresh issuance and an offer for sale. However, the IPO was delayed due to market volatility. In 2023, OYO submitted a revised version of the DRHP, incorporating updated financials and making structural changes to the offering. This refiled draft was seen as a renewed attempt to proceed with its IPO plans. Nevertheless, the company withdrew this updated filing in May 2024. The current IPO discussions mark OYO's third attempt to go public. OYO reported a ₹ 623 crore profit in FY25. Revenue jumped 20% to ₹ 6,463 crore, and profit after tax surged 172% from the previous year, driven by strong growth in its premium hotel portfolio and global expansion. The renewed IPO initiative also comes at a time when OYO has resolved a key legal dispute. In May 2025, the Delhi High Court ruled in OYO's favour in its long-running conflict with Zostel Hospitality, the parent company of ZO Rooms. The court set aside an earlier arbitral award, stating that there was no binding acquisition agreement between the two companies. It concluded that OYO did not breach any contractual obligations during the failed deal negotiations dating back to 2015.
