Limited Time Offer
Get $1000 towards your
first investment
Start investing in private markets with Linqto – your access to disruptive startups and pre-IPO companies.
*Terms and conditions apply. See details
OYO, the travel technology platform founded by Ritesh Agarwal, has been making significant strides in the hospitality industry. The company recently reported its first-ever net profit of Rs 229 crore for the fiscal year 2023-24, surpassing earlier estimates. This financial milestone comes on the back of eight consecutive quarters of positive Adjusted EBITDA, which grew by 215% to reach Rs 877 crore in FY24.
In a move that signals continued investor confidence, OYO's parent company Oravel Stays Ltd has raised Rs 1,457 crore in its latest funding round. The Series G round saw participation from investors including InCred Wealth, J&A Partners, and ASK Financial Holdings. This capital infusion is expected to support OYO's growth and global expansion plans.
The company's IPO prospects have been a topic of interest in the market. While OYO had previously filed for an initial public offering, recent reports suggest the company may be reassessing its options. The latest funding round values OYO at $2.4 billion, maintaining the valuation from its previous raise.
OYO has been focusing on strengthening its premium property portfolio globally, including the recent opening of its first luxury hotel in Dubai. The company is also expanding its inventory, which grew from 12,938 properties at the end of FY23 to 18,103 by the end of FY24.
As OYO continues to demonstrate financial improvements and attract investor interest, the potential for an IPO remains a possibility. However, the company has not made any official announcements regarding immediate plans to go public. Investors and industry observers will be closely watching OYO's performance and strategic moves in the coming months for any indications of its IPO intentions.
Get $1000 towards your
first investment
*Terms and conditions apply. See details
While OYO's IPO prospects remain uncertain, investors eager to gain exposure to the hospitality tech sector don't have to wait. At Linqto, we offer members access to interests in promising pre-IPO private companies, including potential leaders in the travel and accommodation industry. Our platform allows you to diversify your portfolio with lower minimum investments, potentially benefiting from the growth of innovative companies like OYO before they go public.
1 - BusinessLine - This fund raise concludes the Series G funding round. The IPO-bound unicorn had earlier raised nearly ₹1,040 crore and ₹416.85 crore in the same series
3 - Business Standard - OYO's adjusted Ebitda grew by 215 per cent to reach nearly Rs 877 crore in FY24, up from about Rs 277 crore in FY23, the travel tech platform reported in its annual report
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
