Oyo CEO increases $66m stake as profits grow

Ritesh Agarwal, Oyo’s founder and CEO, plans to acquire additional shares worth 550 crore rupees (US$65 million).

In the most recent funding round, Agarwal invested US$100 million of the US$175 million total.

Other investors included InCred Wealth and ASK Financial Holdings. This new purchase will raise Agarwal’s ownership in Oyo from 30% to 32%.

Recent Oyo developments

Timeline
17-Jun-2024 🏨 Oyo finalizes up to $125m raise at discounted $2.5b valuation: report Oyo aims to raise up to $125M at $2.5B value IPO plans shifted, listing expected in 18-24 months
30-May-2024 📈 Oyo records first-ever net profits: founder Oyo posts $12M net profit for FY 2023-24. Maintains positive EBITDA for eight consecutive quarters.
22-May-2024 📉 Oyo drops IPO bid anew: report Oyo halts IPO plans amid SEBI rejections. Valuation drops to $2.3B from $10B peak in 2019.
08-May-2024 📉 Oyo in funding talks at 70% drop in valuation: report Oyo seeks new funds at $3B valuation Valuation drop from $10B in 2019 amid discussions
12-Dec-2023 📈 Oyo promotes Rakesh Kumar to chief financial officer Rakesh Kumar promoted to CFO, effective Jan 2024 Outgoing CFO Gupta to assume advisory role
28-Nov-2023 🏨 Oyo resumes ‘Managed by Oyo’ model, eyes 200 premium hotels in India

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies: