This marks OYO’s third attempt at an IPO, following earlier filings with the Securities and Exchange Board of India (SEBI) in 2021 and subsequent withdrawals, most recently in May 2024. The company had previously targeted a Rs 8,430 crore offering.

OYO Restarts IPO Talks at $6–7 Billion Valuation

OYO, also known as OYO Rooms or OYO Hotels & Homes, is an Indian multinational hospitality chain that has reignited its plans to go public. The firm is initiating fresh discussions with investment banks for an initial public offering (IPO) that could value the company between $6 billion and $7 billion. The company is aiming for a listing in the last quarter of the current financial year, with the formal filing of IPO documents expected between August and September 2025.

Will OYO be Lucky this Time?

Sources close to the development indicate that OYO has begun engaging both Indian and international banks, inviting pitches as part of its renewed IPO push. The company is currently weighing whether to file its prospectus with the audited financial results for FY25 or wait until the first quarter results of FY26 are available.

This marks OYO’s third attempt at an IPO, following earlier filings with the Securities and Exchange Board of India (SEBI) in 2021 and subsequent withdrawals, most recently in May 2024. The company had previously targeted a Rs 8,430 crore offering.

Key Stakeholder Involvement

An important meeting is scheduled in June with the OYO’s board and its major shareholder, SoftBank. After the meeting, it's expected that the company will finalize the IPO sizing, timing, and other critical details. The Board and all shareholders, including SoftBank, are keen for the company to actively evaluate filing an IPO application shortly due to the swift business turnaround with an estimated Rs 620 crore net profit in FY25.

Financial Performance

The renewed IPO effort comes on the back of OYO’s significant business turnaround. The company has reported an estimated net profit of Rs 620 crore for FY25, reflecting improved financial health and operational efficiency. OYO has also streamlined its global operations and expanded its presence in key markets such as India, the US, Europe, and Southeast Asia.

Investor Sentiment and Market Impact

Investor confidence appears to be on the rise, buoyed by OYO’s profitability and growth prospects. The company’s expansion into new verticals, including food and beverage services through in-house kitchens and QSR kiosks, further underscores its efforts to diversify and strengthen its business model.
If successful, the upcoming IPO could mark a significant milestone for OYO, positioning it for sustained growth and greater investor interest as it seeks to capitalize on its global footprint and recent financial turnaround.

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