Skift Take
Oyo's IPO has been in focus for years. Its profitability and subsequent stable situation is indicative of the robust Indian hotel industry.
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At the inaugural Skift India Summit held at The Leela Ambience Gurugram on Wednesday, hospitality chain Oyo’s CEO Ritesh Agarwal addressed the speculation around its potential IPO. He said that the company does not have a need to raise money at this stage from the public or private markets. Oyo is currently focusing on delivering good earnings results, he said.
Oyo’s IPO journey: The company had filed for an IPO in 2021. It was, however, asked to refile documents by regulators in January 2023. Since then, there has been speculation around when Oyo will be listed. Last month, a media report stated that the hospitality chain might withdraw its papers from the regulator and that it was looking to raise funds from private investors. The Agarwal-led company refuted that claim.
“My view is that, at this point of time, we don’t need access to capital from either the public markets or the private markets,” said Agarwal on Wednesday. “Currently, our focus is just delivering good earnings results, and so on.”
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