Page 2 - Oyo Rooms

Dozen Indian IPOs now under extra investor scrutiny after Paytm debacle

Planned smaller IPOs could have a harder time pricing shares if there is a reduced appetite for new listings

Purchasing intention gets a boost as economy shows signs of recovery

Intentions to buy consumer products through Nykaa and Croma picked up pace

OYO names silver-medallist Paralympian Deepa Malik as independent director

Joins three other independent directors and one nominee director, besides Ritesh Agarwal who is the chairman

Small towns will write next chapter of India's startup story: Oyo CEO

Small towns will write the next chapter of India's startup story, OYO Founder and Chairman Ritesh Agarwal said on Tuesday, as he extended his support to four startups from Ladakh and the Himalayan region that are part of the Naropa Fellowship programme. Naropa Fellowship, co-founded by Drukpa Thuksey Rinpoche and Pramath Raj Sinha is a Ladakh-based fellowship programme aimed at creating environmentally and socially conscious entrepreneurs from the Himalayan region. "Small towns in India will write the next chapter of India's startup story & I'm delighted to extend my support to this momentum, through an initial pledge of INR 1CR equity-free grant & mentorship to entrepreneurs across India-starting with 4 fantastic startups from @TheNaropa," Agarwal said in a tweet. Small town entrepreneurs often struggle with a lack of access to resources and expertise, he added, stating that through strategic feedback, mentorship sessions and funding, he looks forward to doing his part for ...

Oyo files DRHP for $1.2 bn IPO; founder, key investors not diluting stake

In the DRHP, the firm says its app has been downloaded 100 million times and its major focus geographies are India, Malaysia, Indonesia and Europe

Softbank-backed Oyo in legal spat with rival Zostel ahead of $1.2-bn IPO

Zostel filed a petition in August with the Delhi High Court to stop Oyo from changing its shareholder structure, including through an IPO

Goa, Jaipur set to become India's top leisure destinations: OYO data

OYO released the findings of its Unlocking Travel Report 2021 on the occasion of World Tourism Day

Hospitality major OYO increases its ESOP pool by 41%

Hospitality major OYO has expanded its Employee Stock Option Plan (ESOP) pool by 41 per cent with the addition of another 20 crore shares

IPO-bound OYO increases authorised share capital to Rs 901 crore

The development comes ahead of proposed initial public offering by OYO, for which a draft red herring prospectus is likely to be filed in the next few months

An $8.8 bn IPO wave sweeps across India as investors bet on startups

The catalyst, in a word, is Zomato Ltd. The food-delivery startup went public in July

OYO to hire over 300 tech professionals to expand tech, product teams

Hospitality firm OYO on Thursday said it is looking to hire over 300 technology professionals across entry-level to senior leadership roles during the next six months. The company seeks to hire full-stack teams with key skill sets and expertise in the areas of Machine Learning, Data Engineering & Information Security, Android and iOS developers, OYO said in a statement. The company is set to introduce several innovations and is committed to investing in technology, further optimising revenues for hotel owners, while improving user experience for customers, it added. The hiring will play a critical role in accelerating OYO's transformation to a global full-stack technology provider for small and mid-sized hotels and homes, the statement said. The company has already begun onboarding over 50 mid-level tech talent and around 150 campus recruits from top universities across India, it added. "We've been blessed to have a diverse pool of tech talent and believe that each new bright mind

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor

Three-pronged revamp strategy includes getting out of investing in capex of hotels, moving away from offering minimum guarantees to hotel partners and giving them flexibility to determine room tariff

OYO to cover Covid-19 vaccination cost for employees, family in India

Hospitality firm OYO on Thursday said it will cover COVID-19 vaccination cost for all its employees and their family members in India. The employees and their family members in India can choose to get the vaccination done at any centre, convenient to them and the costs would be reimbursed in full by the company, OYO said in a statement. The company has also enhanced the insurance benefit of employees to include a COVID-19 home care cover, it added. The company, however, did not provide any details about the number of employees it has in India. "As part of our commitment to keep our employees and their families safe and show our gratitude to them, we are happy to facilitate the cost of their COVID-19 vaccinations,"OYO Hotels & Homes Chief Human Resources Officer Dinesh Ramamurthi said. The company encourages employees to take the vaccine after reading up about its benefits and making an informed decision, he added.

Oyo's India business Ebitda-positive: Founder & Group CEO Ritesh Agarwal

India business is EBITDA positive. It has achieved EBITDA break-even from December 2020 and is growing month-on-month

Arbitrator provides no relief to ZO Rooms in ownership dispute: OYO parent

The firm has said it will 'vehemently oppose' any move to make it execute the definitive agreement for its disputed acquisition of Zostel Hospitality

Data sciences, tech must be given due importance in every industry: Oyo CEO

Technology and data sciences need to be given due importance as they bring change in every ecosystem they are part of, OYO Hotels and Homes Founder and Group CEO Ritesh Agarwal said on Monday.

OYO to make further investments in Europe: CEO Ritesh Agarwal

Agarwal was speaking at the India Symposium 2020, organised by the Institute of Chartered Accountants of India (ICAI) Netherlands Chapter and India Dutch Financial Corridor (IDFC)

OYO hands out pink slips to 300 workers from renovation, operations dept

This is in line with the company's efforts to drive technology-enabled synergies and realign of some business functions to other verticals, leading to some redundancies across a few functions

Our focus is to make an IPO-ready company, says OYO chief Ritesh Agarwal

'We'll look at various things like the market situation, opportunities outside, and so on, and the board will consider and then potentially advise on the timeline,' Agarwal said

Softbank partners Oyo in Latam; to control 1,000 hotels in Brazil, Mexico

The move comes as Oyo, valued at $10 billion in its most recent fundraising round, has been forced to cut costs and rein in its expansionist strategy in global markets