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Oyo executive stands to gain 1,100 crore on IPO

Oyo is expected to create a total wealth of about $668 million (about 5,000 crore) for its employees based on a post-IPO valuation of $10 billion.
Oyo expanded its Esop pool by more than 40% in September.(Livemint)
Oyo expanded its Esop pool by more than 40% in September.(Livemint)
Published on Oct 05, 2021 07:55 AM IST
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Livemint | By Ankit Agarwal, New Delhi

Hotel rooms aggregator Oyo files papers for 8,430 crore IPO

  • The filing with the capital markets regulator is the latest example of a rush to tap the public markets by Indian unicorn startups.
Oyo’s 27-year-old founder Ritesh Agarwal will not be selling his shares.(Livemint)
Oyo’s 27-year-old founder Ritesh Agarwal will not be selling his shares.(Livemint)
Updated on Oct 02, 2021 04:48 AM IST
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By Ranjani Raghavan, Ravindra Sonavane, Mumbai

SoftBank-backed Oyo files draft papers for $1.14 billion IPO

The hotel aggregator's move comes at a time when travel restrictions are being eased across the world.
Hotel aggregator Oyo 
Hotel aggregator Oyo 
Published on Oct 01, 2021 12:34 PM IST
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Reuters |

Oyo appoints banks for IPO, set to file draft papers in Oct

  • Oyo is looking to raise $1.2 billion from its public issue, the two people cited above confirmed.
The news around Oyo’s IPO comes at a time when several startups are making a beeline to list on the public marke(Livemint)
The news around Oyo’s IPO comes at a time when several startups are making a beeline to list on the public marke(Livemint)
Published on Sep 24, 2021 04:59 AM IST
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Livemint | By Tarush Bhalla, Ranjani Raghavan, Mumbai

Oyo to file for up to USD 1 billion IPO next week: Report

Last week, shareholders of Oravel Stays, the parent company of hospitality firm Oyo, had approved the conversion of the company from a private limited company to a public limited company, according to a regulatory filing.
The logo of Oyo is seen installed on a hotel building in New Delhi.(Reuters File Photo)
The logo of Oyo is seen installed on a hotel building in New Delhi.(Reuters File Photo)
Published on Sep 23, 2021 10:33 AM IST
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By hindustantimes.com | Written by Amit Chaturvedi, Hindustan Times, New Delhi

OYO’s value hits $9.6 billion after Microsoft funding

  • According to the documents filed by the company with the ministry of corporate affairs, Oyo has sold Series F2 compulsory convertible cumulative preference shares to Microsoft.
Earlier this year, Oyo raised $660 million in debt from institutional investors, including Fidelity Investments, to settle its debt and to invest in product and technology.(File Photo)
Earlier this year, Oyo raised $660 million in debt from institutional investors, including Fidelity Investments, to settle its debt and to invest in product and technology.(File Photo)
Published on Aug 21, 2021 12:38 AM IST
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By Payal Ganguly, Hindustan Times, New Delhi

Microsoft in advanced talks to buy stake in Oyo: Reports

Oyo raised a term loan B (TLB) funding of $660 million from global institutional investors and it will use the capital to pay off debt and for other business investments.
Oyo's founder and chief executive officer, Ritesh Agarwal, said earlier this month that his company would consider a potential public offering without giving a timeline. (File Photo)
Oyo's founder and chief executive officer, Ritesh Agarwal, said earlier this month that his company would consider a potential public offering without giving a timeline. (File Photo)
Published on Jul 31, 2021 12:09 PM IST
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By hindustantimes.com | Written by Meenakshi Ray, New Delhi

OYO raises $660 million via debt funding from investors

  • According to the firm, the proposed issuance was subscribed 1.7 times as it received commitments of close to $1 billion from leading institutional investors.
OYO will use these funds to retire its past debts, strengthen the balance sheet and leverage the funds for other business purposes, including investment in product technology.(Livemint)
OYO will use these funds to retire its past debts, strengthen the balance sheet and leverage the funds for other business purposes, including investment in product technology.(Livemint)
Published on Jul 16, 2021 11:53 PM IST
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By Tarush Bhalla, Livemint, Bengaluru

2021 appears set to be the best year for unicorns

While new tech-based companies created new categories of businesses, the Covid-19 pandemic has only ensured that many more segments of business are conducted online, and startups in the area proliferate into new territories.
In India, the top three unicorn companies are One97 Communications (the owner of Paytm), the ed-tech based Byju’s, and travel-based OYO Rooms.(Reuters)
In India, the top three unicorn companies are One97 Communications (the owner of Paytm), the ed-tech based Byju’s, and travel-based OYO Rooms.(Reuters)
Updated on May 24, 2021 06:31 AM IST
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By Vineet Sachdev, New Delhi

NCLT initiates insolvency proceedings against OYO arm; Co files appeal

Meanwhile, OYO said it has challenged the order against its subsidiary OYO Hotels and Homes Pvt Ltd (OHHPL) in the National Company Law Appellate Tribunal (NCLAT).
The creditors of OYO Hotels and Homes Pvt Ltd are called upon to submit their claims with proofs on or before April 15, 2021, to the interim resolution professional, the announcement said.(Reuters)
The creditors of OYO Hotels and Homes Pvt Ltd are called upon to submit their claims with proofs on or before April 15, 2021, to the interim resolution professional, the announcement said.(Reuters)
Published on Apr 07, 2021 02:41 PM IST
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PTI | , New Delhi

Oyo asked to pay 1.61 lakh by Pune district consumer commission

Aul Kulkarni, a resident of Vadgaon Budruk, had lodged a complaint with the consumer forum last year as regards his trip to Kerala.
FILE PHOTO: The logo of OYO, India's largest and fastest-growing hotel chain, is seen installed on a hotel building in New Delhi, India, April 3, 2019. REUTERS/Adnan Abidi(REUTERS)
FILE PHOTO: The logo of OYO, India's largest and fastest-growing hotel chain, is seen installed on a hotel building in New Delhi, India, April 3, 2019. REUTERS/Adnan Abidi(REUTERS)
Updated on Feb 16, 2021 04:45 AM IST
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By Nadeem Inamdar, Pune

Oyo lays off around 300 more employees

Oyo’s ongoing shift from a minimum business guarantee model to a revenue-sharing one requires fewer people, said one of the two people cited above, both of whom spoke on condition of anonymity.
The second person said Oyo might cut more jobs as it looks to extend its runway.(Reuters file photo)
The second person said Oyo might cut more jobs as it looks to extend its runway.(Reuters file photo)
Published on Dec 09, 2020 06:50 AM IST
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Livemint, Bengaluru | By Tarush Bhalla and Madhurima Nandy

Oyo founder booked for fraud, company refutes charges

The case was registered by Dera Bassi police after Chandigarh businessman Vikas Gupta alleged that Oyo Hotels and Homes Private Limited top management had illegally terminated an agreement with him
A case under Section 420 (cheating) and 120-B ( criminal conspiracy) of the Indian Penal Code (IPC) was registered against Ritesh Agarwal and Sandeep Lodha at the Dera Bassi police station.(ANI)
A case under Section 420 (cheating) and 120-B ( criminal conspiracy) of the Indian Penal Code (IPC) was registered against Ritesh Agarwal and Sandeep Lodha at the Dera Bassi police station.(ANI)
Updated on Sep 14, 2020 11:30 PM IST
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Hindustan Times, Chandigarh | By HT Correspondent, Mohali

Job losses continue to mount across startup ecosystem

Several startups laid off or furloughed employees and contract staff in April and May, besides imposing salary cuts to save cash, with revenues taking a hit.
Travel and hospitality startups have been hit due to the pandemic.(HT Archive)
Travel and hospitality startups have been hit due to the pandemic.(HT Archive)
Updated on May 18, 2020 08:36 AM IST
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Hindustan Times, New Delhi | By Salman SH

Covid-19: Cash-strapped Oyo offers free stay to medical personnel

Reports suggest thousands of Oyo employees have been placed on furloughs and leaves for nearly 2 to 3 months as the company fights to weather the coronavirus pandemic.
In a video message to his employees, Agarwal said that furloughs will keep jobs safe and will help the business in the long haul.(Ramesh Pathania)
In a video message to his employees, Agarwal said that furloughs will keep jobs safe and will help the business in the long haul.(Ramesh Pathania)
Updated on Apr 16, 2020 01:11 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

OYO to lay off over 1,000 people in India as part of restructuring exercise

In an internal mail to the employees of OYO in India and South Asia, the company’s founder and Group CEO Ritesh Agarwal said that asking some of the colleagues to move to a new career outside of OYO has not been an ‘easy decision’.
Oyo rooms, India's Largest Branded Network of Hotels(File photo)
Oyo rooms, India's Largest Branded Network of Hotels(File photo)
Updated on Jan 13, 2020 06:40 PM IST
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New Delhi | By Press Trust of India

Fault in geyser led to shooter’s death in OYO hotel room, suspect cops

Police ruled out any foul play as the bathroom where the teenager, Priyanshu Kumar, died was locked from inside. The hotel staff broke open the door after his roommate raised an alarm upon hearing his screams.
A 15-year-old national-level shooter died inside the bathroom of an OYO hotel in south Delhi’s Pul Prahladpur.(HT Photo)
A 15-year-old national-level shooter died inside the bathroom of an OYO hotel in south Delhi’s Pul Prahladpur.(HT Photo)
Updated on Oct 17, 2019 11:24 PM IST
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Hindustan Times, New Delhi | By HT Correspondent

Why some Indian hotels are checking out of Oyo

As the Softbank-backed startup pushes toward profitability, an increasing number of Indian hotel operators who have partnered with it are complaining about being blindsided by fee increases.
The backlash against Oyo - while limited to a small share of the more than 10,000 hotel owners in India who work with it - comes at a crucial time for an emerging-market unicorn valued at $10 billion and its major investor.(Ramesh Pathania/ HT Photo)
The backlash against Oyo - while limited to a small share of the more than 10,000 hotel owners in India who work with it - comes at a crucial time for an emerging-market unicorn valued at $10 billion and its major investor.(Ramesh Pathania/ HT Photo)
Updated on Oct 08, 2019 06:46 AM IST
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Bengaluru | By Reuters

Oyo raises $1.5 billion at $10 billion valuation

Japanese banks Mizuho Financial Group Inc. and Nomura Holdings Inc. are bankrolling Agarwal’s share acquisition, according to people familiar with the deal. He is buying some of those shares from Sequoia and Lightspeed
OYO founder Ritesh Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership stake.(REUTERS)
OYO founder Ritesh Agarwal, 25, will spend $700 million to buy new shares in the company as part of a previously reported $2 billion plan to triple his ownership stake.(REUTERS)
Updated on Oct 07, 2019 07:43 PM IST
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Bloomberg, Bangalore | By Saritha Rai

HT Tourism Conclave 2019 | Mantra to survive is staying relevant to customers: Oyo’s Aditya Ghosh

Ghosh said at his company, a lot of data and science went into understanding what the customer wants.
There are far more choices available to the Indian traveler than before and also the method through which they can access these services, he added.(HT image)
There are far more choices available to the Indian traveler than before and also the method through which they can access these services, he added.(HT image)
Updated on Sep 20, 2019 08:48 PM IST
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New Delhi | By HT Correspondent

Oyo buys Las Vegas Hooters Hotel in its first US purchase

Earlier in June, Oyo had announced its plan to invest $300 million in the U.S. Currently, there it has over 112 Oyo Hotels in more than 60 cities and 21 states in the U.S.
The logo of OYO.(REUTERS image)
The logo of OYO.(REUTERS image)
Updated on Aug 24, 2019 09:26 AM IST
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Livemint, Bengaluru | By Deepti Chaudhary

IIT-D may turn to space aggregators for hostel rooms

When contacted, an Oyo official said “while there are no developments that we can confirm at this point, we look forward to the opportunity to engage with relevant stakeholders”.
The Indian Institute of Technology, Delhi.(HT Photo)
The Indian Institute of Technology, Delhi.(HT Photo)
Updated on Jul 28, 2019 10:39 AM IST
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Hindustan Times, New Delhi | By Amandeep Shukla

OYO to raise $1 billion through SoftBank fund, investors for expansion

The company has already raised $800 million, and has further commitment of $200 million, OYO said in a statement.
A worker cleans the entrance of a hotel, next to the signboard for OYO Rooms at Fort Kochi, Kerala.(Reuters File Photo)
A worker cleans the entrance of a hotel, next to the signboard for OYO Rooms at Fort Kochi, Kerala.(Reuters File Photo)
Updated on Sep 25, 2018 02:37 PM IST
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New Delhi | By Press Trust of India

OYO to launch in 10 UK cities over the next 18 months

OYO is entering Britain’s economy hotel segment, which is led by Whitbread’s Premier Inn chain
Marking its first expansion outside of Asia, OYO said it plans to invest £40 million in UK.(Reuters File PHoto)
Marking its first expansion outside of Asia, OYO said it plans to invest £40 million in UK.(Reuters File PHoto)
Published on Sep 19, 2018 05:52 PM IST
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London | By Reuters
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