After reporting its first-ever profitable quarter in the September quarter of FY24, OYO is set to reduce its debt burden by repaying over ₹1,600 crore via buyback
The buyback initiative involves the repurchase of 30 per cent of OYO s outstanding Term Loan B (TLB), as per an announcement by the IPO-bound company on the Bloomberg terminal.
The move comes on the back of Ritesh Agarwal-led startup reporting its first-ever profit in the second quarter of 2023-24, with a profit after tax (PAT) of Rs 16 crore.
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