OYO IPO Plans: There is a lot of volatility in the stock market at this time. In this situation, OYO does not want to take any chances. This is the reason why the company will come up with an IPO after September.
OYO IPO Update: The hospitality and travel technology company OYO may go public after September 2022. The company has sought permission to file updated financial statements with the stock exchange regulator SEBI. Earlier, Oyo was planning to raise Rs 8,430 crore through IPO. The company estimated the valuation of the company at $ 11 billion by bringing the IPO, but it is believed that the valuation can be reduced to $ 7 to 8 billion. That is, there is a clear indication that the company can also reduce the size of the IPO.
The IPO has already been approved.
In fact, Oravel Stays Limited, a company owned by the OYO brand, has already received in-principle approval from the Mumbai Stock Exchange and the National Stock Exchange to list on the stock exchange. The company had in October last year filed a draft document with the market regulator Sebi for an IPO of Rs 8,430 crore.
Question on listing success
Actually, there is a lot of volatility in the stock market at the present time. The largest IPO in the history of the IPO market, LIC’s IPO is trading below its issue price. In this situation, OYO does not want to take any chances. This is why the company plans to reduce its size while also launching an IPO after September. Anyway, for all the tech IPOs that came in the IPO in 2021, there has been a tremendous jump in their shares. In which the shares of Paytm, Policy Bazaar, Cartrade, and Zomato are the best examples. The company lost Rs 1744.7 crore in 2020-21, according to the DHRP filed by the company.
Ritesh Agarwal is the founder
Ritesh Agarwal, the founder of OYO, owns 33% of the company and will not sell his stake in the IPO. At the same time, SoftBank Vision Fund, which is the largest investor in Oyo and holds a 46 percent stake, may sell its 2 percent stake in the company.
