Global travel tech platform Oyo has initiated fresh discussions with investment bankers in preparation for a third attempt at a public listing, with the aim of launching its IPO in the fourth quarter of the current financial year.
Sources close to the development said Oyo has begun engaging both domestic and international banks and is likely to file fresh IPO papers between August and September. The company is still weighing whether to file with FY25 audited results or wait until the first quarter financials of the current fiscal are ready. The planned IPO could value Oyo in the range of $6-7 billion.
The company, which first filed a draft red herring prospectus (DRHP) with Sebi in 2021 targeting a Rs 8,430 crore offering, withdrew the application in 2022. A subsequent confidential filing in 2023 was also pulled back in May 2024.
A key meeting between Oyo’s board and major shareholder SoftBank is scheduled for June in London to finalise details including size and timeline. The renewed interest in going public follows a reported profit after tax of Rs 623 crore in FY25, a 172% increase from the previous year, and an adjusted Ebitda of Rs 1,132 crore.
Oyo has also expanded its global presence and entered new verticals, including food and beverage services via in-house kitchens and QSR kiosks. With operations in India, the US, Europe, and Southeast Asia, the company is positioning itself for sustained growth and investor interest ahead of a possible listing.