India Budget Hotel Platform OYO Raised $50 Million from India InCred Wealth at $2.3 Billion Valuation, Withdrew India IPO & Plans to Refile after Refinancing $450 Million Loan, To Raise Funds at $2.5 Billion Valuation with Previous Highest Valuation at $10 Billion
10th July 2024 | Hong Kong
India budget hotel platform OYO has raised $50 million from India InCred Wealth at $2.3 billion valuation. In 2024 May, OYO withdrew its India IPO application from Securities and Exchange Board of India (SEBI) and plans to refile after refinancing OYO $450 million loan. OYO has also been reported to be raising funds at $2.5 billion valuation (Previous highest valuation at $10 billion). OYO (Oravel Stays) was founded in 2012 by Ritesh Agarwal, and renamed as OYO in 2013. OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases revenue and eases operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 157,000 hotel and home storefronts across India, Europe, and Southeast Asia and 35 countries.
“ India Budget Hotel Platform OYO Raised $50 Million from India InCred Wealth at $2.3 Billion Valuation, Withdrew India IPO & Plans to Refile after Refinancing $450 Million Loan, To Raise Funds at $2.5 Billion Valuation with Previous Highest Valuation at $10 Billion “
India Budget Hotel Platform OYO Withdraws India IPO & Plans to Refile after Refinancing $450 Million Loan, To Raise Funds at $2.5 Billion Valuation with Previous Highest Valuation at $10 Billion
29th May 2024 – India budget hotel platform OYO has withdrew its India IPO from Securities and Exchange Board of India (SEBI) and plans to refile after refinancing OYO $450 million loan. OYO has also been reported to be raising funds at $2.5 billion valuation (Previous highest valuation at $10 billion). OYO (Oravel Stays) is founded in 2012 by Ritesh Agarwal, and renamed as OYO in 2013. OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases revenue and eases operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 157,000 hotel and home storefronts across India, Europe, and Southeast Asia and 35 countries.
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