Sunday, December 10, 2023
Outlook India
Outlook Business

Oyo Ipo

Gangtok, Darjeeling, and Shillong in the East; and Lonavala and Mahabaleshwar in the West will also see new OYO hotels, it added

At present, the company has 40 hotels in Rishikesh, Haridwar, Srinagar (Uttarakhand), Kedarnath, Joshimath, and Uttarkashi, which will be doubled to 80 hotels

The company's Founder & Group CEO Ritesh Agarwal shared the update with OYO employees addressing a town hall virtually on Thursday, sources told PTI.

In a series of tweets, Agarwal spoke about the "busiest day of the year" for the travel technology company and shared that OYO saw higher bookings in Varanasi as compared to Goa

The development came after the Securities and Exchange Board of India ( SEBI) requested the New Delhi-based unicorn to update its draft IPO papers

The Ritesh Agarwal-backed hospitality aggregator is planning an IPO in the first quarter of the FY 2023 with a target valuation of $7 billion to $8 billion