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Ritesh Agrawal OYO To Launch Its IPO After September 2022

Ritesh Agrawal OYO To Launch Its IPO After September 2022
Written by Arindam

OYO IPO Update: Hospitality and travel tech company OYO may come out with its IPO after September 2022. The company has sought permission to file an updated financial statement with the stock exchange regulator SEBI. Earlier OYO was planning to raise Rs 8,430 crore through IPO. The company was estimating the company’s valuation of $ 11 billion by bringing IPO, but it is believed that the valuation can be reduced to $ 7 to 8 billion. That is, the indication is clear that the company can also reduce the size of the IPO.

IPO has already been approved
In fact, Oravel Stays Limited, which owns the OYO brand, has already received in-principle approval from the Mumbai Stock Exchange and the National Stock Exchange for listing on the stock exchange. In October last year, the company had filed a draft document with market regulator SEBI to bring an IPO worth Rs 8,430 crore.

Question on listing success
In fact, there is a huge volatility in the stock market at the present time. The biggest IPO in the history of the IPO market, LIC’s IPO is trading below its issue price. In such a situation, OYO does not want to take any risk at the moment. This is the reason why the company is going to reduce the size along with bringing the IPO after September. Anyway, all the tech IPOs that came in IPO in 2021, their shares have been beaten up tremendously. In which the shares of Paytm, Policy Bazaar, Cartrade, Zomato are great examples. According to the DHRP filed by the company, the company had a loss of Rs 1744.7 crore in 2020-21.

Ritesh Agarwal is the founder
OYO founder Ritesh Agarwal holds 33 per cent stake in 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 has 46 percent stake, can sell its 2 percent stake in the company.

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Arindam

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