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Oyo's parent PRISM increases authorised share capital ahead of planned IPO

IPO-bound OYO's parent firm PRISM has initiated a fresh round of corporate actions, including an increase in its authorised share capital as part of its preparations for a potential public listing, sources said on Thursday. In August, PTI had reported that OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a USD 7-8 billion valuation for its IPO, according to sources. The company has proposed to increase its authorised share capital from Rs 2,431.13 crore to Rs 2,433.13 crore by adding 20 lakh CCPS (Compulsarily Convertible Preference Shares) of Rs 10 each. This follows earlier shareholder approvals in August and September 2025 for capital expansion linked to IPO readiness and other fund-raising activities. The current proposal is to further increase the authorised share capital to accommodate the issuance of bonus CCPS. In a communication to shareholders, OYO said, "The increase in the authorised share capital is in addition to the earlier increase in t

OYO Assets plans to acquire 12 hotels, expand premium, mid-premium segment

OYO parent PRISM-backed OYO Assets, on Wednesday, said it plans to acquire 12 hotels in the second half of this financial year to scale its portfolio of premium and mid-premium hospitality assets. OYO Assets, also known as Sunday PropTech, said that out of the 12 targeted acquisitions, seven hotels are in advanced stages of acquisition. "The portfolio of acquisition will be funded through a mix of debt and equity, leveraging the company's strong balance sheet and investor support from an InCred and Analah-led consortium, along with PRISM Life and its shareholders such as SoftBank," OYO said. Saurav Agarwal, Board Member, Sunday PropTech, said its focus is on properties in good locations with strong return potential. "The need for high-quality premium and mid-premium hotels, coupled with a growing interest in travel, has been increasing significantly, and we see compelling opportunities to deploy capital in this space," Agarwal added. Beyond its immediate expansion plans, OYO Asset

Oyo parent PRISM rejigs top leadership, appoints Ankit Tandon as global COO

Travel-tech platform OYO's parent firm PRISM on Friday announced rejig in its leadership team with the elevation of Ankit Tandon as Chief Operating Officer of PRISM and CEO, Europe and Varun Jain being appointed as COO-Asia PRISM. Tandon is currently the CEO of OYO Vacation Homes, while Jain is presently the COO-India, PRISM. In his expanded role, Ankit will oversee business performance and operations for PRISM worldwide, including brands such as Belvilla, DanCenter, Sunday Hotels, and others, according to OYO. "He will also lead Europe, including the UK, which is primarily a hotels market, as well as the US, encompassing G6 Hospitality, the parent company of Motel 6 and Studio 6," OYO said, adding that he will also continue to lead PRISM's Vacation Homes business, including recent additions such as CheckMyGuest (France) and MadeComfy (Australia). Puneet Yadav, UK Country Head, will report to Ankit, while Sonal Sinha, CEO - G6 Hospitality, based in Dallas, will work closely with An

Oyo's premium brand 'Sunday' to add 40 new upscale hotels in FY26

IPO-bound OYO's parent firm Prism is fast-tracking the growth of its premium hotel brand Sunday, with plans to add 40 new upscale properties, including 4-star and 5-star hotels, across India in the current financial year. As part of its expansion strategy, Sunday Hotels is focusing on a mix of metro markets and non-metro cities, while also targeting tourism hotspots, including wildlife sanctuaries and prominent religious destinations. Gujarat, Uttar Pradesh, and Rajasthan are set to drive Sunday Hotels' expansion in FY26, together contributing over 40 per cent of the brand's upcoming portfolio. "Sunday blends global hospitality expertise with localised operations and cutting-edge technology, creating a flexible and profitable model for both seasoned hotel owners and entrepreneurs across India," Aditya Sharma, Business Head, Sunday Hotels and Resorts, told PTI. The brand is in advanced discussions with leading hotel owners to bring Sunday Hotels to prime locations in Mumbai, Hyderab

Oyo parent Oravel Stays rebrands to Prism to reflect global portfolio

Oravel Stays, parent of Oyo, has rebranded to PRISM, a new identity uniting its growing portfolio across budget stays, premium hotels, vacation homes and tech solutions

Oyo renames parent entity Oravel Stays to Prism to unify global brands

IPO-bound OYO's parent entity, Oravel Stays, will now be called Prism to serve as the umbrella entity for all its businesses and bring together various brands of the global travel tech platform. In a letter to shareholders sent by OYO, accessed by PTI, Chairman of the Board and founder Ritesh Agarwal mentioned that Oravel Stays will launch Prism Life, in short Prism, as its new corporate identity. "Prism will serve as the umbrella for all our diverse businesses, helping us work more efficiently and clearly communicate who we are. It will tie together our different brands without losing what makes each one unique," Agarwal said in the letter. He further shared that the transition to Prism marks the establishment of a clearer and more future-ready corporate architecture, designed to align the company's expanding portfolio with its strategic vision. "Our OYO brand will continue to serve as the highly recognisable, consumer-facing identity for budget and midscale travel, a space it has

Oyo to expand to 300 cities by FY26, eyes doubling booking revenue

Oyo aims to increase its booking revenue share from company-serviced hotels from 22 to 44 per cent while expanding to over 300 Indian cities by the end of FY26

OYO restarts IPO talks, eyes Q4 listing at $6-7 billion valuation

Global travel tech platform OYO has started discussions with bankers for a fresh attempt at IPO, targeting a listing in the last quarter of the current financial year, sources said. Preliminary discussions with investment banks have indicated a potential valuation range of USD 6-7 billion for the public offering. The company started informal discussions last month and is now calling for pitches, according to a person familiar with the development. "The company is engaging with both Indian and international banking institutions with plans to potentially file theHP documents between Aug-Sept this year. It is yet to decide whether to file with FY25 financial results or wait till the Q1 FY26 financials are audited and ready for filing," sources told PTI. A crucial round of discussions with the company's board and with its key shareholder, SoftBank's representatives, is scheduled for June in London. "The Board and all shareholders, including SoftBank, are keen for the company to active

OYO most profitable startup in FY25 with ₹623 cr profit: Ritesh Agarwal

Global travel tech platform OYO has become the most profitable Indian startup with a profit after tax of Rs 623 crore in the 2024-25 financial year, Founder Ritesh Agarwal told employees in a townhall on Thursday, sources said. According to documents accessed by PTI, as per its unaudited financials, the company's FY25 PAT (profit after tax) grew 172 per cent from Rs 229 crore in the preceding year. It achieved an adjusted EBITDA of Rs 1,132 crore in FY25, compared to Rs 889 crore in the year-ago fiscal, registering a 27 per cent year-on-year growth and its tenth consecutive quarter of EBITDA profitability. Consequently, OYO's earnings per share (EPS) reached Rs 0.93 for FY25, up from Rs 0.36 in FY24, reflecting a 158 per cent increase, the documents showed. The travel tech platform reported a 54 per cent increase in Gross Booking Value (GBV) to Rs 16,436 crore and its revenue grew to Rs 6,463 crore, a 20 per cent increase year-on-year, fuelled by the company's premium offerings ...

Oyo forays into F&B, expects 5-10% additional revenue at hotel level

The company had launched a pilot programme in January this year across 100 company-serviced hotels in select cities such as Delhi, Gurugram, Hyderabad, and Bengaluru

OYO to enter F&B with in-house kitchens, QSR carts in serviced hotels

Global travel tech firm OYO on Thursday said it plans to enter the food and beverage business with in-house kitchens and Quick Service Restaurant (QSR) carts at its company-serviced hotels. The QSR initiative, under brand name 'Townhouse Cafe', will focus on the 'Townhouse by OYO' branded hotels. It will cover 1,500 company-serviced hotels during the first phase of the programme in FY2025-26. Besides, guests can order meals through online platforms, including the OYO app and website, as well as online travel agents, by selecting the "Kitchen Services" option. The kitchen setup would vary from a full-fledged commercial kitchen for an extensive menu or a pantry setup for essential food items, based on the individual hotel profile and back-end infrastructure. "The F&B initiative is a result of consistent consumer feedback that the hotels should provide in-room dining options as well. The programme is expected to increase customer satisfaction scores. "OYO is expecting F&B to ...

Oyo plans to expand 'SUNDAY Hotels' to 100 properties globally by FY26

With a focus on premiumization, OYO-parent Oravel Stays plans to ramp up the expansion of SUNDAY Hotels, eyeing 100 properties under the brand globally by the end of the next financial year. The SUNDAY Hotels have opened in 10 countries across the globe including India, the United Kingdom, Saudi Arabia, the United Arab Emirates, Bahrain, Indonesia, Malaysia, Thailand, Philippines, and Vietnam. SUNDAY Hotels, a premium brand of four-star and five-star hotels, was originally launched in May 2023 through a joint venture between the SoftBank Group and Oravel Stays. The initiative is part of Oravel's ongoing programme to spread its premium hotel footprint around the globe. The brand made its debut in India in Jaipur followed by expansions into key business and leisure hubs such as Vadodara, Chandigarh, and Gurugram. Currently, Oravel Stays operates thirteen SUNDAY Hotels across India. "There are 30 SUNDAY Collection hotels already open across 10 countries including India and the compa

OYO to invest Rs 539.57 crore in UK to expand premium hotel portfolio

Travel tech unicorn OYO on Tuesday said it plans to invest 50 million pounds (Rs 539.57 crore) in the UK over the next three years, primarily to focus on expanding its premium hotel portfolio. The investment is expected to support 1,000 jobs over the next three years in the UK hospitality sector, OYO said in a statement. In a significant strategic shift, OYO is actively pursuing premiumization of its UK portfolio, by pivoting towards premium inventory acquisition, focusing on securing long-term leasehold and management contracts. The company is also in advanced stage talks with several large hotel chains and real estate companies for potential asset management transactions. "OYO's investment in premium hotels will not only strengthen our tourism infrastructure, but back our ambitious 'Showcase Britain' initiative, helping to boost economic growth as part of our Plan for Change," said the UK Minister for Investment Baroness Poppy Gustafsson OBE in the statement. Puneet Yadav, Count

Oyo early investors consider partial stake sale at $3.9 billion valuation

The latest stake sale is set at a 60 per cent premium compared to the valuation during Oyo's August 2024 funding round, where prominent family offices invested

Indian hotel industry cannot surrender to 'civil society's' marriage police

Unlike toy makers or sellers of detergent, service-based companies must deal with customers as people, but there's no point achieving scale at the cost of your brand's core appeal

Oyo Q2 results: Net profit at Rs 158 cr, revenue surges to Rs 1,578 cr

Travel tech platform OYO achieved a profit after tax of Rs 158 crore in the second quarter of the current fiscal ended September, Founder Ritesh Agarwal told employees in a townhall on Thursday, sources said. Oravel Stays Ltd, the parent company of OYO, had posted a loss of Rs 50 crore in the same period of the previous year. During the first quarter, OYO's profit after tax stood at Rs 132 crore. This brings the company's H1 FY25 net profit to Rs 290 crore (USD 35 million), marking a turnaround from the Rs 91 crore net loss reported in the same period of the previous fiscal, the sources said. In Q2 FY25, OYO's revenue surged to Rs 1,578 crore, from Rs 1,413 crore in Q1. OYO recently announced its acquisition of G6 Hospitality, a US-based economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone.

Oyo reports Rs 132 cr in Q1 profits, aims for Rs 700 cr in full year FY25

In the US, Agarwal said that Oyo is opening a new property every three days, reflecting very strong momentum in the world's largest economy

IPO-bound OYO reports first ever net profit of Rs 229 crore in FY24

IPO-bound unicorn OYO reported its first-ever net profit at Rs 229 crore during the financial year ended March, as per its latest annual report. Ritesh Agarwal, OYO founder, acknowledged on X (formerly Twitter) on Wednesday that the numbers have exceeded his earlier estimate of Rs 100 crore for the 2023-24 fiscal year. "One big learning for me over the years is under-promise and over-deliver. Our audited results are published post-adoption by the board. The effort of OYOpreneurs has delivered Rs 229 crore net profit, exceeding my earlier estimate of Rs 100 crore," Agarwal tweeted. In a statement, OYO informed that the first-ever net profit comes on the back of eight consecutive quarters of positive Adjusted EBITDA. "OYO's Adjusted EBITDA grew by 215 per cent to reach nearly Rs 877 crore in FY24, up from about Rs 277 crore in FY23," the travel tech platform reported in its annual report. Aiming for global expansion, the company said it has acquired K&J Consulting, which operates ..

Oyo founder Ritesh Agarwal invests Rs 830 cr in firm's latest funding round

Besides Agarwal, key contributors in the funding round include InCred Wealth, J&A Partners, the family office of Mankind Pharma promoters and ASK Financial Holdings

OYO's parent Oravel Stays raises Rs 1,457 crore in latest funding round

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said. The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round. According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8. The capital will be used to support OYO's growth and its global expansion plans, sources said. The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The funding round includes contributions from InCred Wealth, who led the recent fundrai