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OYO is expected to file its Draft Red Herring Prospectus - DRHP in November with a valuation of $7-8 billion.
The deets: the SoftBank-backed budget hotel unicorn has ramped up its discussion with key banking partners in the last few weeks with the company's valuation guidance kept at $7-8 billion. The company was eyeing a market debut by October 2025, but the listing plan has now been delayed. This was attributed to market volatility in the wake of tariff policies initiated by the U.S. President Donald Trump-led administration.
Will OYO be third time lucky?
Founded in 2012, OYO first attempted to go public in 2021, targeting a valuation of up to $12 billion. However, the plan was shelved due to the pandemic's impact.
In March 2023, the company made a second attempt, filing its IPO papers confidentially with SEBI. Despite this, the listing was later postponed until May, and has since been delayed further.
By the numbers: OYO reported a 54% increase in gross booking value to ₹16,436 crore and its revenue grew to ₹6,463 crore in FY25. This has renewed investor confidence in OYO’s business model, promoting the fresh attempt at going public.
The big picture: if successful, OYO will join Indian tech unicorns like Zomato, Paytm, and Nykaa in going public. Analysts believe the revised $7-8 billion valuation reflects a more cautious, realistic pitch compared to its earlier $12 billion ambition, making this attempt its strongest yet.
