Oyo, once valued at $10 billion, has withdrawn its IPO plans for the second time on May 17, as revealed by Sebi filings. The company is now seeking to raise $80-90 million from family offices at a significantly reduced valuation of $2.3-$4 billion. The hospitality chain is working with financial services company InCred to facilitate this funding round, accepting commitments starting from $2 million each. This move comes as Oyo's valuation has plummeted by nearly 75% from its peak in 2019. The company is also focusing on refinancing its debt as part of its restructuring efforts.
#StartUpNews | Hospitality unicorn @oyorooms withdraws offer document, shelves IPO plans for now, sources tell @Aish_19_Anand Sources add that the @riteshagar-led company is in talks with @InCred to raise $80-$90 Mn from family offices at a valuation of $3-4Bn — down nearly… https://t.co/KktYYKMWoC
To go public or not? BIG update on OYO IPO! ‘Approached by...’ - Founder Ritesh Agarwal @riteshagar https://t.co/2chSgHTIXj
🚨🚨 @oyorooms withdraws #IPO application, opts for private funding in downround Sources said Oyo is engaging with investors for a new round of funding at a valuation of $2.3 billion, a drop of more than 70% from its peak valuation of $9 billion. https://t.co/V27k1zep6F
#Oyo withdraws #IPO application, opts for private #funding in downround https://t.co/RwIhNQymtD
Oyo withdraws offer document on May 17th, shelves IPO plans for now. @Aish_19_Anand reports As per sources #Oyo in talks with InCred to raise $80 Mn to $90 Mn from family offices. Looking at a valuation of $3-4Bn; down nearly 75% from its peak $10 Bn valuation back in 2019.…
Hospitality major #Oyo is in talks to raise $80-90 million, co in talks with #InCred to raise about $80-90 m from family offices. The #valuation of $3-4 billion; down nearly 75% from $10 bn peak valuation in 2019: Sources to @Aish_19_Anand https://t.co/qKqVARW7RC
Hospitality major #Oyo is in talks to raise $80-90 million, co in talks with #InCred to raise about $80-90 m from family offices. The #valuation of $3-4 billion; down nearly 75% from $10 bn peak valuation in 2019: Sources to CNBC-TV18 https://t.co/hNESKmkNw7
Oyo, once valued at $10 billion, shelves IPO plans for second time: https://t.co/945E0kzIwF by TechCrunch #infosec #cybersecurity #technology #news
Oyo, once valued at $10 billion, shelves IPO plans for second time https://t.co/g8Hhk0C3NQ
Oyo pulled out its confidential IPO filing on May 17, Sebi filings reveal Now it's working on its private round and refinancing debt https://t.co/1dDMNxqliZ https://t.co/zeAKPOif0V
Confirmed: Oyo has withdrawn its draft IPO papers--officially. @pranavmukul and I reported in Feb that this was in the making and the company would opt for a private raise. Oyo has been pitching a funding at around $2.3 billion. https://t.co/DrIhujXwl4
🚨 Oyo is seeking out a new group of investors for its down round 💰 The hospitality chain is talking to family offices, taking cheques starting from $2 mn More details 👇 https://t.co/heLKlqagUw
🚨🚨EXCLUSIVE🚨🚨: OYO, which was valued at $10 bn at its peak, is now raising capital from family offices at a valuation range of $2.3-$2.5 bn. The company is willing to accept commitments starting from $2 mn each & is working with financial services company InCred. @thearc_hq…
Big news! OYO is set to refile its IPO papers following a $450 million refinancing plan through dollar bond sales. 💰 The refinancing, led by JP Morgan, will help OYO reduce its current effective interest rate and extend the repayment timeline to five years. #Finance #Investing… https://t.co/bECOGHO2iX
Big news! Oyo is set to refile its IPO papers following a $450 million refinancing plan through dollar bond sales. 💰 The refinancing, led by JP Morgan, will help OYO reduce its current effective interest rate and extend the repayment timeline to five years. #Finance #Investing… https://t.co/fRVV9BEftN
OYO IPO: Know full story behind Ritesh Agarwal-led firm withdrawing DHRP - Refiling papers after… https://t.co/si5zgMoxtY
#OYO withdraws DRHP, to refile IPO post refinancing: Sources https://t.co/I0Q7dQv1Hy