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Nuvama Wealth acquires shares worth Rs 100 crore in OYO via secondary market: Sources

Nuvama Wealth acquires shares worth Rs 100 crore in OYO via secondary market: Sources

Fri, Dec 13, 2024

According to sources, discussions are also at an advanced stage with other potential buyers, including Incred, who are exploring stake purchases in the hospitality major at prices ranging between Rs 53-60 per share in the secondary market, translating to a potential valuation of up to USD 5.2 billion.

Moody's upgrades OYO parent Oravel Stays rating; outlook stable

Moody's upgrades OYO parent Oravel Stays rating; outlook stable

Thu, Dec 05, 2024

Elaborating upon the rating rationale, Moody's said OYO is in the process of securing a new five-year USD 825 million term loan, which together with the USD 174 million of primary equity capital raised between June and August 2024, will be used to repay its existing TLB that matures in June 2026, easing its refinancing pressures.

OYO to acquire iconic Motel 6 brand in $525 million all-cash deal

Sat, Sep 21, 2024

Oravel Stays, the parent company of OYO stated that it has agreed to acquire G6 Hospitality, the leading economy lodging franchisor and parent company of Motel 6 and the chain's offshoot hotel brand, Studio 6.

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M3M India, Oravel Stays join hands to launch 'SUNDAY' hotel in Gurugram

M3M India, Oravel Stays join hands to launch 'SUNDAY' hotel in Gurugram

Thu, Aug 29, 2024

The initiative is part of a larger partnership to develop luxurious hospitality space across 15 lakh square feet with 1,000 keys across multiple destinations in Gurugram and Noida.

OYO projects three-fold rise in FY25 PAT at Rs 700 cr

OYO projects three-fold rise in FY25 PAT at Rs 700 cr

Wed, Aug 28, 2024

OYO, the IPO-bound travel tech platform, forecasts a three-fold increase in profit after tax for the current fiscal year, aiming for over Rs 700 crore. Founder Ritesh Agarwal shared the company's positive financial outlook at a recent town hall.

OYO parent Oravel Stays raises Rs 1,457 crore: Report

OYO parent Oravel Stays raises Rs 1,457 crore: Report

Sun, Aug 11, 2024

The funding round includes contributions from InCred Wealth, who led the recent fundraise as well as J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings.

Oyo's Ritesh Agarwal, Cred's Kunal Shah and 3 other startup founders who are school or college dropouts; a look at their entrepreneurial journey

Oyo's Ritesh Agarwal, Cred's Kunal Shah and 3 other startup founders who are school or college dropouts; a look at their entrepreneurial journey

Mon, Jul 29, 2024

In the startup space, some founders like Ritesh Agarwal, and Kunal Shah have also proved that practical knowledge is more important than degrees.

At Rs 100 crore, OYO posts FY24 as maiden profitable fiscal: Founder

At Rs 100 crore, OYO posts FY24 as maiden profitable fiscal: Founder

Thu, May 30, 2024

In a post on social media platform X, Agarwal said he sees growth ahead "not just in India" but also in OYO's other key markets of Nordics, South East Asia, the US and UK.

OYO may raise equity from private investors at valuation of up to $4 billion: Ritesh Agarwal

OYO may raise equity from private investors at valuation of up to $4 billion: Ritesh Agarwal

Wed, May 22, 2024

It also reported an adjusted EBITDA of Rs 888 crore ($107 million) for the full fiscal year, up from Rs 274 crore ($33 million) in FY23, sources said, citing a presentation shared in the townhall.

OYO withdraws DRHP, to refile IPO post refinancing: Report

OYO withdraws DRHP, to refile IPO post refinancing: Report

Sat, May 18, 2024

Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process.

OYO expects consistent PAT rise in upcoming quarters, CEO Ritesh Agarwal tells employees

OYO expects consistent PAT rise in upcoming quarters, CEO Ritesh Agarwal tells employees

Fri, Feb 09, 2024

Oravel Stays Ltd, which operates travel tech brand OYO, had its maiden profitable quarter in Q2 FY24 with a PAT of Rs 16 crore.

OYO restarts self-operated hotels, targets 200 new properties

OYO restarts self-operated hotels, targets 200 new properties

Tue, Nov 28, 2023

Hospitality tech platform OYO said it has restarted self-operated hotels tagged as 'Managed by OYO' through the company's app and website and is seeking partnerships with real estate developers to identify properties for these hotels.

A look at this week's startup deals: Aretto, Swiggy, Oyo, DynamoFL, eBikeGo were in news

A look at this week's startup deals: Aretto, Swiggy, Oyo, DynamoFL, eBikeGo were in news

Fri, Aug 18, 2023

Startups like Aretto and DynamoFL raised funding this week while OYO said it will will facilitate on-the-job training across its vacation home business in countries such as Denmark, and eBikeGo plans to launch its Muvi brand of e-scooters.

OYO to facilitate skill training for Haryana youths at its vacation home businesses abroad

OYO to facilitate skill training for Haryana youths at its vacation home businesses abroad

Thu, Aug 17, 2023

OYO signed a memorandum of agreement (MoU) with Vishwakarma Skill University, Haryana Kaushal Rozgar Nigam Limited (HKRNL) and the Foreign Cooperation Department of Haryana government, the company stated.

OYO enters premium resorts, hotels category, launches Palette brand

Tue, Jul 18, 2023

Hospitality technology platform OYO on Tuesday announced its foray into premium resorts and hotels category with the launch of its new brand -Palette with plans to have a total of 50 properties by second quarter of FY24.

OYO to add 500 hotels in host cities of upcoming cricket world cup

OYO to add 500 hotels in host cities of upcoming cricket world cup

Fri, Jul 07, 2023

Hotel tariffs have already increased due to heightened demand across host cities three months ahead, OYO said, adding it has also witnessed a significant surge in demand for the duration of the tournament.

OYO to add 300 hill station hotels to portfolio by August

OYO to add 300 hill station hotels to portfolio by August

Mon, Jun 12, 2023

In north India, the new hotels will be in places such as Manali, Mussoorie, Nainital, Srinagar, Shimla, Dalhousie, and Haridwar while in the South, it will be Ooty, Munnar, and Kodaikanal, the company said in a statement.

Surge in domestic travels continues; Manali, Goa top destinations: OYO

Surge in domestic travels continues; Manali, Goa top destinations: OYO

Fri, May 19, 2023

"India's favourite mountain destination is Manali, followed by Kashmir, Mcleod Ganj, Ooty and Coorg. OYO hotels in Manali continue to see an uptick in demand as summer travel gains pace," the company said.

A look at this week's startup deals: Oyo, BharatPe, Swiggy, Trillion Loans, BluSmart Mobility, Pocket FM were in news

A look at this week's startup deals: Oyo, BharatPe, Swiggy, Trillion Loans, BluSmart Mobility, Pocket FM were in news

Sun, May 07, 2023

This week startups like PropertyPistol, Smartworks and Pocket FM raised funding among others, and BharatPe acquired controlling stake in NBFC Trillion Loans.

OYO to double hotels for Char Dham Yatra 2023 - here's why?

OYO to double hotels for Char Dham Yatra 2023 - here's why?

Thu, May 04, 2023

Hospitality tech platform OYO on Thursday said it will double the number of properties on offer for the Char Dham Yatra 2023 of Uttarakhand as it witnesses record demand from pilgrims.

A look at this week's startup deals: Reloy, Oyo, Blinkit, Tesz, Razorpay, Toprankers were in news

A look at this week's startup deals: Reloy, Oyo, Blinkit, Tesz, Razorpay, Toprankers were in news

Fri, Apr 21, 2023

This week startups like Toprankers bought ProBano, BetterPlace acquired Malaysia's TROOPERS, Zoom bought Workvivo, and Oyo announced to add 50 new properties in Ayodhya in 2023.

OYO to add 50 new properties in Ayodhya in 2023

OYO to add 50 new properties in Ayodhya in 2023

Thu, Apr 20, 2023

OYO Chief Merchant Officer Anuj Tejpal said the company made a "robust expansion plan" for Ayodhya after multiple rounds of meetings with the government to understand their key requirements and concerns.

OYO pre-files draft paper for IPO; likely to list around Diwali

OYO pre-files draft paper for IPO; likely to list around Diwali

Fri, Mar 31, 2023

Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI OYO may launch its initial public offering (IPO) around Diwali this year.

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