Hotel booking startup OYO files for IPO to raise $1.2 billion

Among the Indian Unicorns Oyo is the 2nd startup to file for an initial public offering after Zomato.

Among the Indian Unicorns Oyo is the 2nd startup to file for an initial public offering after Zomato. Founder Ritesh Agarwal owns 34% stand in the company. The company plans to use the funds to pay off the debts. Oyo has also announced a strategic investment from IT giant Microsoft. 
Oyo has completely changed its policies & further plans to introduce advanced technologies in the hospitality sector. The number of hotels registered under Oyo has also increased with the launch of self signup service through which a hotel can be registered within 30 minutes. As the pandemic has affected the lifestyle of the consumers Oyo’s plan to introduce advanced technologies can be a boon for the company. 
Meanwhile, Oyo’s three-year-old legal battle with Zo Rooms is expected to conclude as the hearing is scheduled for October 7. 

 

 

 
Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time