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Oyo, the hospitality startup, is pursuing a pre-IPO round at a $2.3 billion valuation, 80% below its 2019 peak of $10 billion. Fundraising: Targeting $80-90 million from HNIs, family offices, and smaller investors. Minimum investment reduced from $2 million to $120,000. Aiming for $150 million total with larger investors like Khazanah. Financial Projections: FY24: $1.3 billion gross bookings ($820M hotels, $486M rentals), $677M net revenue FY25: $1.8 billion gross bookings (40% YoY growth) FY28: $3.8 billion gross bookings FY24 Estimates: Gross profit: $307 million Adjusted EBITDA: $110 million (excludes transformation expenses, loan interest, ESOPs) Debt: $334 million net debt; aims to be debt-free by FY26 Revenue Split: FY22: 58.4% hotels, 41.7% homes FY23: 64% hotels, 36% homes FY28 projection: 77.1% hotels, 22.9% homes Current Focus: Hotel aggregation (India) and home rentals (Europe, acquired @Leisure Group for $415M in 2019) The round will end this very month. 🤞🏾