Oyo Rooms files DRHP for Rs 8,430 crore mega IPO

Oyo Rooms

On Thursday Oyo hotels and rooms filed a draft prospectus for Rs 8,430 crore (1.1 billion dollars) initial public offering (IPO). Soft bank group backed Indian hospitality startup OYO hotels and rooms is eyeing to raise around 1 billion dollars. The IPO will consist of 83 percent of fresh issue and 17 percent offer for sale. 

Oyo was established by  Ritesh Agarwal in 2013 after dropping out of the college. Now in the age of 27 Agarwal can be a billionaire if OYO has a successful listing. In the year 2019 Agarwal invested 2 billion dollars to triple his stake in the lodging startup and take his ownership to nearly a third. Ritesh Agarwal, his holding company RA Hospital Holdings and SoftBank Vision Fund  the three largest shareholders are the promoters

According to the prospectus. Soft Bank held 46 per cent while Agarwal and his holding company had a combined 33 per cent stake in the firm. Oyo core growth markets comprises of India, Indonesia, Malaysia and Europe representing market of 54 million short stay storefront. 

OYO is a very demanding hospitality app. This app  has been downloaded 100 million times. It is the most popular travel app in the world alongside Airbnb and Booking.com It includes more than 9 million users in its programme. Two third of it's work force including it's technology team are based in India. Despite from covid 19 Oyo's adjusting gross margin improved from 10 percent to 33 percent. 



Suresh Raina names the 3 selective teams that will result in a “Big” threat for India in t20 worldcup 2021.

Suresh Raina has picked up the names of the three giants who could lead to serious trouble for the Indians during the T20 tournament. Raina has taken...

India v England canceled Manchester's fifth test, postponed to July 2022 in Edgbaston

The fifth test match between India and England in Manchester, which has been postponed indefinitely, is now set to take place in July 2022, the Englan...

States & UTs

Around 700 people have been detected ahead of Amit Shah’s visit.

Srinagar: due to the result of the Post-Civilian killings and in the days running up regarding the visit of Union Minister Amit Shah in Srinagar durin...

Samir Wankhede to take legal action against Nawab Malik, on extortion allegations

Mumbai: NCB officer was asked whether he would take any legal action against the NCP leader Nawab Malik. And the allegations that were made by him, th...


Why did the farmers' union decide to suspend Yogendra Yadav for a month?

The activist, who's a member of the Samyukt Kisan Morcha, has been requested now not to take par...

Yogi Adityanath: Umar Khalid’s father hatching conspiracy with Akhilesh

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday, 21 October, commented on a latest assembly...


Mumbai: Cinema halls, auditoriums, amusement parks to reopen today

After reopening the faculties and colleges, the Maharashtra authorities are prepared to permit the c...

The court rejects the plea of Kangana Ranaut to shift the case to another judge, “Judge threatens arrest warrant.”

Mumbai: The Additional Chief Metropolitan magistrate ST Dande on Thursday rejected the request and t...


The Live Newz is an independent, budding and online news portal that came into existence recently. Our mission is to create and deliver the finest news for the readers. We act as a cutting-edge platform that provides the users with every update on recent happenings. We aspire to be true to the journalistic values and maintain the standard of its excellence by presenting the truth to the readers.