Ritesh Agarwal
Ritesh Agarwal, founder of hospitality giant OYO, is increasing his stake in the company with a INR 550 crore (around $65 million) investment. This move will boost Agarwal's shareholding from 30% to 32%, according to sources...
IPO-bound OYO turned profitable in the financial year 2023-24 (FY24) as it streamlined expenses and reduced employee costs. The unicorn reported a net profit of INR 229.5 crore, reversing the net loss of INR 1,286.5 crore...
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OYO eyes 3x increase in net profit to INR 700 Cr for FY25
OYO, the hospitality and travel tech platform, is targeting a threefold increase in its profit after tax (PAT) to INR 700 crore for the...
OYO reports profitable FY24 with INR 229 Cr PAT, revenue slightly down
OYO, the hospitality and travel tech platform, ͏has a͏n͏nounced it͏s first p͏rofita͏ble͏ fiscal year in FY24, at͏tributing th͏e͏ mil͏esto͏ne ͏to increased demand and a...
OYO receives shareholder approval to raise INR 416.85 Cr through preference shares
OYO, th͏e hospitality and travel tech platform, has ͏reportedly͏ receive͏d sh͏areholder approval͏ t͏o raise I͏NR 416͏.85 crore throu͏gh the issuance of͏ preferen͏ce shares.Ac͏cording to...
OYO in advanced talks with family offices for INR 1,000 Cr funding round
OYO, ͏a prom͏ine͏nt playe͏r͏ ͏in͏ the ͏hospi͏tality͏ ͏se͏cto͏r,͏ ͏is ͏sa͏id to ͏͏be͏ in the final ͏͏s͏tag͏es͏ o͏f negotia͏tio͏ns to secure a new round of...
OYO reports first profitable fiscal year with INR 100 Cr net earnings; founder Ritesh Agarwal eyes global growth
OYO, the hospitality and travel tech platform, reported its first profitable fiscal year in 2023-24 with a net earning of nearly INR 100 crore,...
SoftBank-backed hospitality giant OYO withdraws IPO documents, shifts focus to $450M bond sale
OYO, a Delhi NCR-based hospitality unicorn, has officially withdrawn its IPO (initial public offering) documents from the market regulator SEBI. According to the SEBI...
OYO in talks with family offices to raise $90 Million in down round
OYO, a major player in the hospitality industry, is reportedly in talks to raise a down round at a valuation of $2.3 billion, down...
Oyo to resubmit IPO papers following $450 Million refinancing for Term Loan B
Oyo, a SoftBank-backed hospitality and travel-tech firm, is reportedly preparing to refile the draft papers for its much-anticipated initial public offering (IPO) as the...
JP Morgan extends INR 200 Crore credit facility to fuel Oyo’s expansion
According to a report by ET, JP Morgan has extended a credit facility of INR 200 crore to Oyo. Sources familiar with the matter...
OYO’s parent company Oravel Stays to unveil 13 self-operated upscale hotels under ‘Palette’ brand by year-end
Oravel Stays, the parent company of hospitality giant OYO, aims to unveil 13 self-operated hotels under its upscale brand 'Palette' by year-end.Following a model...
Oyo launches Wizard Shark loyalty program following Ritesh Agarwal’s Shark Tank appearance
On Wednesday, Oyo announced the introduction of Wizard Shark, a novel 'limited-edition' loyalty program. This initiative comes on the heels of its founder and...
IPO-bound OYO’s Q3 FY24 profit doubles QoQ to INR 30 Cr
OYO, the IPO-bound hospitality unicorn, achieved its second consecutive profitable quarter in Q3 of the financial year 2023-24 (FY24), doubling its profit after tax...