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New Delhi, June 30(APAC Media): Oravel Stays, the parent company of OYO, has filed updated draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth up to Rs 66.5 billion (around $703 million). The filing marks the company’s latest attempt to list on the Indian stock exchanges after earlier delays.
OYO IPO Filing
According to the updated filing, the proposed IPO will consist entirely of a fresh issue of shares, with no existing shareholders selling their stake through the offer. The company has also kept the option to raise up to Rs 13.3 billion through a pre-IPO placement. If completed, the size of the public issue will be reduced accordingly.
OYO said a major portion of the funds raised through the IPO will be used to repay or prepay existing debt, while the remaining proceeds will be used for general corporate purposes.
OYO Financial Performance
The filing also showed an improvement in the company’s financial performance. For the nine months ended December 31, 2025, Oravel reported Rs 69.41 billion in revenue from operations, already higher than the Rs 62.59 billion recorded during the entire financial year ended March 2025. The company also reported a profit after tax of Rs 7.48 billion during the nine-month period.
OYO currently operates 43 brands across more than 35 countries. As of December 31, 2025, its network included 24,303 hotels, 124,668 homes and 144,583 listings, including nearly 15,000 storefronts in India.
OYO currently operates 43 brands across more than 35 countries. As of December 31, 2025, its network included 24,303 hotels, 124,668 homes and 144,583 listings, including nearly 15,000 storefronts in India.
India IPO Market
The updated filing comes at a time when India’s IPO market has remained relatively slow in 2026. Companies have collectively raised around $3.8 billion through IPOs in the first six months of the year, compared with $4.6 billion during the same period last year. Despite the slowdown, OYO joins several large companies preparing for public listings in the coming months.
OYO’s largest investor remains SoftBank, while its other backers include Microsoft, Airbnb, Khazanah Nasional and Lightspeed Venture Partners. The IPO is being managed by a consortium of investment banks, including Axis Capital, Citigroup, Goldman Sachs, ICICI Securities, InCred Capital, JM Financial and SBI Capital Markets.
OYO’s largest investor remains SoftBank, while its other backers include Microsoft, Airbnb, Khazanah Nasional and Lightspeed Venture Partners. The IPO is being managed by a consortium of investment banks, including Axis Capital, Citigroup, Goldman Sachs, ICICI Securities, InCred Capital, JM Financial and SBI Capital Markets.
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