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Oyo set to file IPO by Q1 FY25: sources
Indian hospitality company Oyo is set to file its draft red herring prospectus (DRHP) for an IPO by the end of the first quarter of the 2025 financial year, according to sources familiar with the situation.
This marks Oyo’s third attempt to go public after two previous efforts were withdrawn.
The IPO follows a shareholding restructuring involving founder Ritesh Agarwal and debt financing arrangements to support the offering, with early investors like Lightspeed Venture Partners planning to sell stakes.
Oyo recently reported its first-ever profit of 229 crore rupees (US$26.49 million) for FY24 and 132 crore rupees (US$15.27 million) for Q1 FY25.
Recent Oyo developments
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16-Jan-2025 📈 Oyo investors plan to sell stake at $3.9b valuation
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05-Jan-2025 💰 Oyo nets $64.1m in funding led by Redsprig Innovation Partners
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24-Dec-2024 🏨 Oyo acquires Motel 6, Studio 6 brands for $525m
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18-Nov-2024 💼 Oyo CEO increases $65m stake
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17-Jun-2024 🏨 Oyo finalizes up to $125m raise at discounted $2.5b valuation: report
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