The swing from losses to profits was vital for Ritesh Agarwal’s plans to take OYO public sometime next year
Our investor survey for H1 2024 showed Swiggy is the most hotly anticipated IPO of the year. But if OYO had been an option, many investors might have chosen the hospitality giant over Swiggy.
However, Ritesh Agarwal postponed OYO’s IPO plans earlier this year, and since then the focus has shifted to why OYO took this step. Unlike 2021, this was not about market conditions, but rather about going for an IPO in a much better financial state than ever before in OYO’s lifetime.