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PRATHAM

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BeatStarsย โ€ขย 11m

Oyoโ€™s Strategic Moves: IPO Acceleration โ€ผ๏ธ Oyo is a global travel-tech company that provides affordable rooms through its network of budget hotels, homes, etc Recently, senior executives and lead bankers met with SEBI to discuss business performance and maybe some talks related to IPO. Oyo reported milestone, with a Profit After Tax (PAT) of โ‚น30 crore in Q3 FY24, doubling from the previous quarter. Additionally, Oyo made a prepayment of $200 million of its outstanding term loan B. CEO Ritesh Agarwal expressed optimism about sustained profit growth, highlighting Oyoโ€™s first profitable quarter in Q2 FY24 with a PAT of โ‚น16 crore. The company also achieved EBITDA of โ‚น750 crore in FY23 and is aiming for โ‚น1,000 crore in FY24. These developments, coupled with favorable market conditions, have positioned Oyo well for its IPO, initially filed in 2021 but now expedited for approval. The companyโ€™s strategic financial consistent profitability indicates a strong future growth.

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