OYO Reignites IPO Plans, Begins Talks With Banks For Potential Listing In FY25

The Gurugram-based company began informal conversations with banks last month and has now moved into a more structured phase by inviting formal pitches

The report stated that, according to one person involved in the process, OYO is currently engaging with a mix of Indian and global banking institutions

Source : OYO

Hospitality technology firm OYO has resumed discussions with investment banks for a renewed attempt at launching its Initial Public Offering (IPO), with plans to target a market debut in the final quarter of the current financial year, according to a PTI report citing sources familiar with the matter.

The Gurugram-based company began informal conversations with banks last month and has now moved into a more structured phase by inviting formal pitches. Preliminary feedback from these discussions has suggested a possible valuation of around $6–$7 billion for the offering, the report said.

The report stated that, according to one person involved in the process, OYO is currently engaging with a mix of Indian and global banking institutions. 

“The company is engaging with both Indian and international banking institutions with plans to potentially file the DRHP documents between Aug-Sept this year. It is yet to decide whether to file with FY25 financial results or wait till the Q1 FY26 financials are audited and ready for filing,” a source told PTI.

A key round of meetings is expected to take place in June in London, where OYO’s board and major shareholders, including representatives from its largest investor, SoftBank, will evaluate the IPO roadmap, the report claims.

'Actively Evaluate Filing An IPO"

 “The Board and all shareholders, including SoftBank, are keen for the company to actively evaluate filing an IPO application in the near future due to the swift business turnaround with an estimated Rs 620 crore net profit in FY25,” a source close to the development revealed in the report.

This marks OYO’s third attempt at going public. The company initially filed for an IPO with the market regulator SEBI in 2021, aiming to raise Rs 8,430 crore. However, after multiple updates and revisions, it formally withdrew its application in May 2024.

Since then, OYO has refocused its operations by optimising costs, exiting non-core geographies, and consolidating its footprint in high-performing markets such as India, the US, Europe, and Southeast Asia. Sources in the report say these strategic moves, along with improved profitability, have helped rebuild investor confidence, paving the way for a renewed public offering attempt.