How IPO-Bound OYO Turned Things Around In FY24

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OYO’s IPO Delayed Again

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Debt Refinancing Details

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Pre-IPO Funding Efforts

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Profitability Turnaround

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Strategic Focus Areas

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Operational Shifts

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Global Expansion Strategy

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Booking Profits: How IPO-Bound OYO Turned Things Around In FY24

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How IPO-Bound OYO Turned Things Around In FY24

OYO’s IPO Delayed Again

OYO postponed its IPO by 6-12 months due to ongoing debt refinancing of a $660 Mn loan.

Debt Refinancing Details

Refinancing $450 Mn of the loan will save OYO INR 124 Cr – INR 141 Cr annually by lowering interest rates.

Pre-IPO Funding Efforts

OYO aims to raise $100 Mn – $150 Mn through pre-IPO placements, with an announcement expected next week.

Profitability Turnaround

OYO turned an INR 1,000 Cr net loss in FY23 into an INR 100 Cr net profit in FY24, with 8 consecutive profitable quarters.

Strategic Focus Areas

OYO focused on spiritual tourism, adding 400 properties in religious sites, boosting revenue.

Operational Shifts

OYO launched an accelerator program for new hoteliers and cut low-performing hotels to improve profitability.

Global Expansion Strategy

OYO shifted focus from China to profitable markets like the UK, US, and Nordic countries, leveraging diaspora and economic trends.

Booking Profits: How IPO-Bound OYO Turned Things Around In FY24