Page 5 - Oyo Hotels & Homes

SoftBank-backed Oyo to weigh 50% smaller IPO amid market turmoil: Report

Oyo made preliminary filings in September aiming for an IPO in early 2022

With culture at stake in unicorn land, spotlight on founder-VC equation

The BharatPe saga raises questions about the impact of outsized investor shareholding in young enterprises

Oyo Hotels targets $9-billion valuation in IPO; may get Sebi nod soon

The SoftBank Group-backed start-up is expected to get the green light to proceed with the offering this week or next after filing preliminary documents last year

OYO appoints ex-Apple executive Nirdosh Chouhan as senior vice president

Oyo said it has appointed ex-Apple executive Nirdosh Chouhan as Senior Vice President of Engineering and former Swiggy official Kranthi Mitra Adusumilli as Senior Principal Data Scientist.

OYO ropes in former SBI chairman Rajnish Kumar as strategic group advisor

Global travel technology platform OYO on Thursday announced the appointment of Rajnish Kumar, former Chairman of State Bank of India (SBI), as its strategic group advisor. Kumar, who has spent over 40 years in the financial sector, will play a key role in advising OYO's management on short-term and long-term strategy, regulatory and stakeholder engagement and enhancing the brand of the company globally, the company said in a statement. We are delighted to welcome Kumar as strategic group advisor. He is a veteran in the financial services sector and his leadership lessons and professionalism are an inspiration. His experience of digitisation and technology led initiatives for the customers is critical for us as we make a difference to our stakeholders' lives, OYO founder and chairman Ritesh Agarwal said. He is currently on the boards of HSBC Asia Pacific, L&T infotech, Hero Motocorp and BharatPe.

Zostel seeking an injunction to restrain OYO, hearing tomorrow

In 2015, Oyo Hotels & Homes signed for Oyo's acquisition of Zostel. The deal fell through, but Zostel is arguing that it still deserves about 7 per cent in Oyo parent

Oyo files to raise $1.1 bn in IPO after refashioning business model

The filing of the draft red herring prospectus of Oyo, which is officially known as Oravel Stays, marks a dramatic recovery after the pandemic buffeted the travel and hospitality industry

IPO-bound Oyo to become public limited company: Check details here

The company intends to list its equity shares on one or more stock exchanges to enable shareholders with a formal marketplace for dealing with equity shares

IPO-bound OYO increases authorised share capital to Rs 901 crore

The development comes ahead of proposed initial public offering by OYO, for which a draft red herring prospectus is likely to be filed in the next few months

OYO to hire over 300 tech professionals to expand tech, product teams

Hospitality firm OYO on Thursday said it is looking to hire over 300 technology professionals across entry-level to senior leadership roles during the next six months. The company seeks to hire full-stack teams with key skill sets and expertise in the areas of Machine Learning, Data Engineering & Information Security, Android and iOS developers, OYO said in a statement. The company is set to introduce several innovations and is committed to investing in technology, further optimising revenues for hotel owners, while improving user experience for customers, it added. The hiring will play a critical role in accelerating OYO's transformation to a global full-stack technology provider for small and mid-sized hotels and homes, the statement said. The company has already begun onboarding over 50 mid-level tech talent and around 150 campus recruits from top universities across India, it added. "We've been blessed to have a diverse pool of tech talent and believe that each new bright mind

Oyo makes room for revival, tweaks strategy for sustainable growth

The asset- and capex-light model, which is at the heart of the strategy, is yet to be tested

Top headlines: Cloudtail to stop operations; Oyo gets IPO process going

Business Standard brings you the top headlines this evening

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor

Three-pronged revamp strategy includes getting out of investing in capex of hotels, moving away from offering minimum guarantees to hotel partners and giving them flexibility to determine room tariff

OYO raises $660 mn term loan funding from global institutional investors

Hospitality firm OYO on Friday said it has raised TLB funding of $660 million from global institutional investors and the capital will be used for paring debt and other business investments

NCLAT closes insolvency proceedings against Oyo and its subsidiary

NCLAT has closed proceedings for insolvency of Oyo's subsidiary Oyo Hotels and Homes Private Limited and allowed Oyo's plea for setting aside the Insolvency and Bankruptcy Code case against OHHPL.

Oyo's efforts to raise $600 million via debt to help its listing plan

The company said $600 million in a TLB structure will service its existing loans, which are on higher interest rates.

Oyo Hotels seeks to raise $600 mn loan, offers generous terms to investors

Oyo's loan also features maintenance covenants, which are usually only included for companies that are considered risky by investors.

Moody's assigns first-time 'B3' ratings to OYO, outlook stable

Moody's CFRs are opinions of a corporate family's ability to honor all of its financial obligations

Oyo to let Covid-19 patients and frontline workers books stays through app

Move is an extension of the facility it had provided in partnership with other stakeholders last year

Zostel claims win in 3-year legal battle against OYO, latter refutes

Zostel could get upwards of $600 million if arbitration goes through