Hospitality and travel-tech company OYO has reportedly received approval from the Securities and Exchange Board of India (SEBI) for its proposed ₹6,650 crore Initial Public Offering (IPO), bringing founder Ritesh Agarwal closer to taking the company public after years of expansion, restructuring, and profitability-focused efforts.
The IPO is expected to value OYO between $7 billion and $8 billion, making it one of the most closely watched startup listings in India. The development marks a major milestone for the company, which has undergone a significant transformation since its previous IPO plans were put on hold amid challenging market conditions and concerns over startup valuations.
Founded by Ritesh Agarwal in 2013, OYO grew from a budget hotel aggregation platform into one of the world’s largest hospitality technology companies, operating across hotels, homes, and vacation rentals in multiple countries. However, the company also faced several challenges in recent years, including the impact of the pandemic, business restructuring, and pressure to improve profitability.
Over the last two years, OYO has focused heavily on reducing losses, streamlining operations, and strengthening its financial performance. The company has reported improved earnings and has consistently emphasized its path toward sustainable growth, helping restore investor confidence ahead of its public market debut.
The upcoming IPO is expected to provide OYO with additional capital to support expansion, strengthen its balance sheet, and accelerate growth initiatives across key markets. It also represents a significant moment for India’s startup ecosystem, as investors closely watch whether one of the country’s most recognizable startup brands can successfully transition into a publicly traded company.
If the listing proceeds as expected, it could become one of the biggest startup IPOs in recent years and further cement Ritesh Agarwal’s position among India’s most influential entrepreneurs.
This story is part of eRoof’s coverage of startups, entrepreneurship, funding, and the companies shaping the future of India’s digital economy.