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Oyo estimates Rs 1,100 crore PAT for FY26: Founder Ritesh Agarwal
Economic Times
·
5m ago
Medial
OYO projects a Rs 1,100 crore profit after tax for FY26, boosted by strong growth and the Motel 6 acquisition. The company anticipates an EBITDA of Rs 2,000 crore, with Motel 6 contributing over Rs 630 crore in its first full year post-integration. OYO's PAT rose significantly to Rs 166 crore in Q3, and strategic initiatives have bolstered its market position. Moody's upgraded OYO’s rating to B2, reflecting stability and growth potential.
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OYO races to IPO as debt deadline looms
YourStory
·
5m ago
Medial
Travel tech platform OYO is expediting its IPO plans due to a debt repayment deadline, while creditors demand founder Ritesh Agarwal to settle a $383 million loan. OYO had to pause IPO efforts due to the pandemic but is now reconsidering a $5 billion valuation listing. The company recorded Rs 5,541.6 crore in revenue and a net profit for FY24, with strategic moves including acquisitions and upgrades from credit agencies. Agarwal recently invested $95 million.
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Oyo to report maiden net profit of Rs 16 crore in ongoing quarter
Economic Times
·
1y ago
Medial
Hospitality company Oyo's parent firm, Oravel Stays, claims to be on the brink of reporting its first-ever profit after tax (PAT) in the current quarter. Founder Ritesh Agarwal, in an email to top management, stated that Q2 FY24 is projected to be Oyo's maiden profitable quarter with a PAT of over INR 16 crore. The company achieved operational profitability in FY23, with an adjusted EBITDA of INR 277 crore. Oyo plans to expand its hotel network after pruning incompatible properties and aims to become an experience-focused offering.
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Oyo raises $65 Mn from Ritesh Agarwal’s Redsprig Innovation
Entrackr
·
7m ago
Medial
Oyo raises $65 Mn from Ritesh Agarwal’s Redsprig Innovation Hospitality major Oyo has raised Rs 550 crore (approximately $65 million) from Redsprig Innovation Partners, an affiliate entity of the company’s founder Ritesh Agarwal. The board at Oyo has passed a special resolution to issue 12,91,07,982 equity shares at an issue price of Rs 42.6 each to raise Rs 550 crore or $65 million, its regulatory filing accessed from the Registrar of Companies shows. After the recent funding injection, the company's valuation rose to $3.79 billion, reflecting a 59.2% increase from Oyo's previous Series G round, when the firm was valued at $2.38 billion. As per the filings, the company plans to use these funds for growth, supporting global expansion (including acquisitions), strengthening business strategies, and other corporate initiatives. The funding will also result in a 1.728% dilution of the company's total stake. This is the second major capital infusion by Agarwal in Oyo. In August 2024, he led a $175 million round through his Singapore-based fund, Patient Capital. Last month, a CNBC TV18 report suggested that Nuvama Wealth & Investment Limited (formerly Edelweiss Securities) purchased shares worth Rs 100 crore in Oyo’s parent Oravel Stays Limited. During FY24, IPO-bound Oyo posted a flat scale which stood at Rs 5,389 crore, as compared to Rs 5,464 crore in FY23. Despite the stagnant revenue, the company managed to control its expenditure by 16% which resulted in Oyo posting a net profit after tax (PAT) of Rs 230 crore in the last fiscal (FY24). In May, the Gurugram-based company withdrew its draft papers (DRHP) for the second time due to unfavorable conditions. The firm also said that it will refile the IPO papers after concluding a large funding round, which is about to close after the latest fundraises.
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Oyo value to hit ₹32,000 cr as CEO Ritesh invests ₹550 cr: Report
Inshorts
·
8m ago
Medial
Oyo CEO Ritesh Agarwal is set to increase his stake in the company from 30% to 32% by investing another ₹550 crore, reports said. Agarwal will buy over 12.9 crore shares at ₹42.60 apiece and the investment will value Oyo at ₹32,000 crore, reports added. This comes after Agarwal led Oyo's Series G funding round with a ₹830 crore investment.
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Oyo completes G6 Hospitality acquisition from Blackstone Real Estate for $525 million
Economic Times
·
7m ago
Medial
Hospitality startup Oyo has acquired G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, for $525 million. This acquisition is expected to boost Oyo's earnings and significantly enhance its presence in North America. The transaction adds approximately 1,500 franchised hotels to Oyo's portfolio and is projected to generate a gross booking value of around $3 billion. Oyo's founder, Ritesh Agarwal, is also planning to increase his stake in the company by buying additional shares worth Rs 550 crore. Oyo reported its first-ever profit after tax of approximately Rs 229 crore in FY24.
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Oyo founder seeks new investment at $3.8B valuation
TechCrunch
·
8m ago
Medial
Ritesh Agarwal, founder of Oyo, has proposed injecting $65.1 million into the Indian hospitality startup through Redsprig Innovation Partners. This investment would value Oyo at $3.8 billion, a 38% premium to its previous valuation of $2.3 billion. Oyo has previously raised over $3.4 billion in equity and debt. It remains unclear if Agarwal has settled a $2 billion loan taken in 2019. Oyo is also reportedly preparing to file for an initial public offering for the third time within two months.
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Founder Ritesh Agarwal invests Rs 830 crore in Oyo's latest funding round
Economic Times
·
12m ago
Medial
OYO founder Ritesh Agarwal has invested Rs 830 crore in the company's latest funding round through his Singapore-based entity Patient Capital. This brings OYO's total funding in the round to Rs 1,457 crore. Agarwal's stake will increase from 29.97% to 32.57% after the investment. The investment aims to protect his ownership dilution in OYO and show confidence in the company's prospects. The funding will support OYO's growth and global expansion plans. The investment is backed by Singapore-based family offices. The company was valued at $2.4 billion in the first tranche of the Series G funding.
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SoftBank's Sumer Juneja to join Oyo board
Economic Times
·
1y ago
Medial
Sumer Juneja, Managing Partner at SoftBank Vision Fund, is set to join the board of OYO's parent company, Oravel Stays Ltd. The appointment, subject to shareholder approval, highlights SoftBank's support for OYO as it turns profitable. OYO reported its first profitable fiscal year in 2023-24, with net earnings of nearly Rs 100 crore. Juneja's appointment comes after the departure of Munish Varma, SoftBank's previous nominee on OYO's board. SoftBank is showing renewed interest in OYO and aims to boost its growth in international markets. Other board members include founder Ritesh Agarwal and executives from Lightspeed Venture Partners and Starbucks.
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OYO Looking To Triple PAT To INR 700 Cr In FY25: Ritesh Agarwal
Inc42
·
11m ago
Medial
OYO founder and CEO, Ritesh Agarwal, announced during a town hall meeting that the company's profit after tax for Q1 FY25 reached INR 132 Cr. Agarwal highlighted the rapid growth of OYO in international markets, with the opening of a new property every three days. In the previous fiscal year, OYO reported a net loss of INR 1,286.51 Cr, but in FY24, it achieved a profit after tax of INR 229.57 Cr.
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IPO-bound OYO seeks to rename parent firm to craft premium identity
YourStory
·
2m ago
Medial
OYO's founder, Ritesh Agarwal, is seeking new name suggestions for its parent company, Oravel Stays, as OYO prepares for an IPO and aims to offer more premium segment services. The name selection could potentially be used for a new premium hotels app. Agarwal invited suggestions via social media, emphasizing a bold, global, tech-forward name. The initiative includes a prize and a chance to meet Agarwal. OYO plans a significant presentation for SoftBank regarding its IPO ambitions.
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