Saturday, May 18, 2024
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Oyo News

Oyo has denied the news, responding to a query, stating that the information is inaccurate and has not been officially confirmed by the company.

The senior executives of Oyo have shared with SEBI the advancements made in Oyo's bottom line and other parameters over the last four quarters, according to the ET.

Oyo founder Ritesh Agarwal stated that the company clocked an adjusted EBITDA of Rs 750 crore in FY23 and expects to clock an adjusted EBITDA of Rs 1,000 crore in FY24.

The new hotels will be strategically located near the stadiums, ensuring ease of access for cricket fans traveling from around the world to witness their favourite teams in action, OYO said in a statement

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

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