OYO Plans Fresh IPO Attempt, Seeks $6-7 Billion Valuation

According to the news reports, OYO has reinitiated discussions with investment bankers for a potential initial public offering (IPO) in the last quarter of FY26. The company is currently in informal talks and has started calling for pitches from both Indian and international banks. According to reports, OYO is considering a valuation of $6–$7 billion for the proposed listing.

IPO Timeline and Filing Considerations

According to a news report, the company may file its Draft Red Herring Prospectus (DRHP) between August and September 2025. A decision is pending on whether to file the DRHP using audited FY25 financials or wait for Q1 FY26 results to be available. The meeting involving OYO’s board and representatives from major shareholder SoftBank is expected to take place in June in London to finalise the way forward.

Previous IPO Withdrawal

OYO had earlier filed and refiled draft papers with the Securities and Exchange Board of India (SEBI) in 2021 to raise ₹8,430 crore. These documents were withdrawn in May 2024. The company had not proceeded with the earlier plan due to shifting market conditions and internal considerations.

Read more: OYO Postpones India IPO Plans Third Time Amid SoftBank Concerns

Financial Performance in FY25

As per news reports, OYO posted a profit after tax (PAT) of ₹623 crore in FY25, up 172% from ₹229 crore in FY24. Its adjusted EBITDA grew to ₹1,132 crore from ₹889 crore in the previous fiscal, marking a 27% year-on-year rise. The company has now achieved ten consecutive quarters of EBITDA profitability. Earnings per share (EPS) rose to ₹0.93 in FY25 from ₹0.36 in FY24, a 158% increase.

Operational Highlights

Gross Booking Value (GBV) increased 54% to ₹16,436 crore, while revenue stood at ₹6,463 crore, reflecting a 20% year-on-year growth. The growth was attributed to its Company-Serviced Portfolio, which includes Townhouse Hotels and Sunday-branded properties across India, the UK, Southeast Asia, and the Middle East.

Conclusion

With improved financial results and a renewed focus on key markets, OYO is moving ahead with plans to re-enter the public markets. A final decision will depend on board approvals and the timing of financial disclosures.

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