Page 3 - Oyo

IPO-bound OYO's valuation dips in pvt market after markdown by SoftBank

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players. In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week. The sell-off followed reports that its largest investor SoftBank has cut the valuation of the hospitality platform by 20 per cent to USD 2.7 billion in its books, said a source. When OYO updated its financials in its draft prospectus last month, reporting positive EBIDTA besides the narrowing of losses, the company's share price in the private market had risen to Rs 94 per share. However, in the subsequent days following reports of the markdown of OYO's valuation by SoftBank, the company's valuation dipped by nearly 13 per cent to Rs 81 per share, said the source. "Last year, ...

OYO working on 'green tag' for sustainable hotels on its platform: CEO

Hospitality and travel-tech firm OYO is currently working towards bringing a 'green tag' for sustainable hotels listed on its platform, CEO Ankit Gupta said on Tuesday. The 'green tag' will be assigned to hotels that are eco-friendly in terms of features like using solar power enhanced efficient lighting and rainwater harvesting. "We are working towards a 'green tag' for all sustainable hotels on our platform," Gupta said at a Ficci event here. Sharing OYO's future plans, he said, "We are basically thinking about launching green tagged hotels, hotels that are eco-friendly in terms of using solar power enhanced efficient lighting, rainwater harvesting or the likes of it and for the more eco-friendly customers".

Mohandas Pai slams OYO over 'fake accounting', hospitality major replies

The allegations came after Oyo filed an addendum to its earlier submitted draft red herring prospectus (DRHP), filed in October 2021 for its IPO, to the Securities and Exchange Board of India (SEBI)

Oyo reports its first EBITDA positive quarter, reduces FY22 losses

In FY22 revenues were Rs 4,905 crore, up 18 per cent against Rs 4,157.3 crore reported in FY21

We should go public when the time is right: OYO Hotels' Steve Albrechts

'There are many factors and parameters that we are going to weigh', he said

Top headlines: Oyo posts positive core earnings; Ola lays off 200 engineers

Jawahar Lal Goel has tendered his resignation from Dish TV India's board and has ceased to be the Chairman of the company, the company announced in a notice to the stock exchange.

Oyo files fresh docs with Sebi for IPO in early 2023 as growth resumes

Oyo, formally known as Oravel Stays Ltd., is internally working toward a January IPO as executives are encouraged by a pick-up in demand

India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

Big tech under Parliamentary panel lens for alleged anti-competition play

Top execs of Indian arms of Apple, Google, Amazon, Netflix and Microsoft quizzed about impact of their business models on small players.

OYO acquires Denmark-based holiday home operator Bornholmske Feriehuse

Travel and hospitality technology platform OYO on Tuesday said it has acquired Denmark-based holiday home operator Bornholmske Feriehuse for an undisclosed sum. Based out of Bornholm island in Denmark, Bornholmske Feriehuse has 737 holiday homes spread over 30 holiday parks on its platform and expects to clock more than 2.5 lakh guest nights in 2022, OYO said in a statement. The transaction has been carried out by the company's subsidiary DanCenter through the 'Invest in Denmark' initiative by the Danish government that provides customised one-stop service to foreign firms looking to set up or expand a business in the country, it added. "Bornholm exhibits great potential for tourism in the coming years," OYO founder and Group CEO Ritesh Agarwal said. Founded in 2002 by Rasmus Lund and Jacob Lund, Bornholmske Feriehuse is a full stack operator providing end-to-end solutions to homeowners. Rasmus Lund will continue as director of Bornholmske Feriehuse and will grow operations furthe

Parl panel summons Paytm's Vijay Shekhar Sharma, Oyo's Ritesh Agarwal

BJP leader and former Union minister Jayant Sinha-chaired Parliamentary Standing Committee on Finance has been looking into various aspects of competition in the marketplace

Quality standards for gig, shared economy players soon: top govt officials

Indian Bureau of Standards also mulling adoption of ISO benchmarks; need for standardisation also arises from increasing number of complaints received by consumer affairs ministry lately

Construction industry leads as business travel remains strong: OYO survey

Delhi has topped of the most preferred destinations for business travel, closely followed by Bangalore, Mumbai, and Hyderabad

World MSME Day: Oyo announces special 60% discount for small businesses

Approx 2,000 properties across the country will be covered under this scheme

At 1.27 lakh, OYO sees highest daily bookings in May as travel surge builds

Yatra, Booking.com, Ixigo also see biz uptick as travel picks up post-Omicron

Varanasi, Tirupati, Puri among top pilgrimage destinations in India: OYO

Varanasi, Tirupati, Puri, Amritsar and Shirdi have emerged as the top pilgrimage destinations, according to a report by travel tech firm OYO. The report titled 'India's Treasure Trove of Cultural Travel 2022' said with over 3.5 times growth over the past year, Srinagar clocked the highest growth in bookings among cultural destinations in 2022. Besides Srinagar, Pahalgam and Jammu in J&K also ranked among the top cultural destinations in India, the report released on Monday said. As per OYO's booking data analysed between January to April 2022, Srinagar, Pahalgam, Bodhgaya, Shirdi and Jammu are among India's top five cultural destinations in order of ranking. "Varanasi, seen by many as the spiritual hub, tops the chart as the most popular pilgrimage destination in India in 2022. This is followed by Tirupati, Puri, Amritsar and Shirdi. Besides this, OYO's Mid-Summer Vacation Index also highlights keen consumer interest in visiting Vaishno Devi this summer," it said. As per the ...

Fitch downgrades OYO's ratings over uncertainty in making profit

Rating agency expects the company's FY23 revenue to increase by around 30%, lower than its forecast.

Biz travel sees revival as OYO adds 1,250 new corporate clients since Mar

Small and medium businesses continue to contribute significantly to the business travel bookings as more and more people from this segment opt for physical interactions

OYO plans IPO after September, may settle for lower valuation: Report

OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market

All the world's a stage for unicorns

In 2021, when the buzz is around start-ups going for IPOs and celebration of Indian entrepreneurship, it's also time to acknowledge the role of global players in the journey to stardom