OYO, the travel tech platform, may raise equity at a valuation of up to USD 4 billion following interest from private investors. The IPO-bound firm, with backing from Softbank, reported its first profitable year and may use the new funding to reduce debt further.
The IPO-bound firm, backed by Softbank, had its maiden net profitable year in FY24 when it posted a profit after tax (PAT) of Rs 99.6 crore (USD 12 million).
Indian budget hotel aggregator Oyo has withdrawn its papers for an initial public offering , regulatory disclosures showed, the second time the company has pulled its flotation plans in nearly.