OYO Mulls Slashing IPO Size By Two-Third Amid Market Volatility

OYO Mulls Slashing IPO Size By Two-Third Amid Market Volatility

SUMMARY

The hospitality major plans to file its draft red herring prospectus as soon as this week

OYO’s current investors are unlikely to offload their shares in the IPO

CEO Ritesh Agarwal recently said that OYO is on its way to close FY23 with a revenue of over INR 5,700 Cr as against INR 4,780 Cr in FY22

Hospitality major OYO reportedly plans to slash the size of its proposed initial public offering (IPO) amid the prevailing market volatility and plunging valuations of tech companies.

Sources told Bloomberg that OYO plans to sell just a third of the originally planned shares in the IPO. The move could directly impact the amount of fresh capital that the company is expected to raise. 

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