Diabytes
OYO News
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Ritesh Agarwal’s commitment to hygiene isn’t new. In July 2023, he introduced the 'Spotless Stay' initiative to improve cleanliness across Oyo properties.
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OYO has been actively pursuing strategic initiatives to strengthen its position in the market. The company has focused on the premiumisation of its hotel portfolio in India and has also expanded globally through acquisitions.
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OYO Rules For Unmarried Couples: The initiative is part of OYO's program to reshape outdated perceptions and position itself as a brand offering safe and reliable experiences for families, students, business travellers, religious pilgrims, and solo adventurers.
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The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at ₹29, consistent with the valuation of the recent raise in Series G.
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As per existing SEBI regulations, the company will need to revise its filings with the regulator.
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Ritesh Agarwal who is a popular 'Shark Tank India' judge, said that today, every global brand wants to be in the country.
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Rakesh Kumar will take charge as OYO's new CFO from January 1.
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Deepinder Goyal and Ritesh Agarwal will join Aman Gupta, Anupam Mittal, Namita Thapar, Vineeta Singh, and Peyush Bansal as Sharks for Shark Tank India season 3.
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Ritesh Agarwal's journey from a small town in India to the founder of a multi-billion-dollar company is a testament to his determination, vision, and entrepreneurial spirit.
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Explaining the rationale for filing through the pre-filing route, a source said, "The market continues to be highly volatile globally and to an extent in India as well.
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The company`s adjusted EBITDA for Q2 grew eight times from Rs 7 crore in Q1 of Rs 56 crore.
The sharp uptick in EBIDTA wasn`t enough to make the company profitable at a net level.
It increased by 69 per cent year on year to Rs 3.48 lakh.The total GBV itself grew 33 per cent to Rs 5,028 crore in H1 2022-23.
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Noida police arrested four for blackmailing couples after secretly making their obscene videos
The gang allegedly used to set up hidden cameras in OYO hotel rooms
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The hospitality tech firm said the discount scheme is valid for two days - July 16 and July 17, 2022.
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OYO said it received over 3.1 lakh bookings for the last festive weekend from April 8-10.
Leisure destinations like Srinagar, Manali, Shirdi, Prayagraj, Chandigarh, Gwalior, and Ludhiana saw the highest growth.
More than 2 lakh OYO hotels witnessed 100 per cent occupancy.
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OYO has filed preliminary documents for a Rs 8,430 crore initial public offering (IPO). The offering will consist of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore.
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Overall, the renters booked more than 5 lakh nights, generating bookings worth more than Rs 110 crore over the weekend.
The company received over 5,03,000 bookings in 2021 for December 30 and 31 December.
It had received close to 1 lakh bookings in 2016.
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Zostel Hospitality had requested the markets regulator Sebi to reject the draft red herring prospectus.
The DRHP is replete with material omissions and blatant misstatements.
The company has made adequate disclosures required under the applicable law in the DRHP filed with Sebi.
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The offering will consist of a fresh issue of shares of up to 70 billion rupees ($942.8 million) and an offer for sale of as much as 14.30 billion rupees.
Oyo is the latest among a clutch of tech-focused companies to tap a booming Indian IPO market.
According to Oyo`s draft herring prospectus, the offer for sale comprises equity shares aggregating up to 13.29 billion rupees by SVF India Holdings.
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The listing plan follows a stellar debut by food delivery firm Zomato Ltd in July.
Nykaa have also filed for IPO. Ride-hailing firm Ola.
Oyo, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs.
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The company intends to list its equity shares on one or more stock exchanges to enable shareholders with a formal marketplace for dealing with equity shares.
Last week, the board of Oravel Stays Private Limited had approved an increase in the authorised share capital of the company from Rs 1.17 crore to Rs 901 crore.
OYO is likely to file its draft red herring prospectus (DRHP) with Sebi in the next couple of months, according to sources.
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