Page 11 - Oyo

Ahead of IPO, Oyo expands share capital through stock split, bonus issue

The Softbank-backed travel technology firm is expected to file its DRHP with Sebi in the next few months

Siliguri-based hotelier moves SC against Oyo for unfair practices

In July, the NCLAT closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties

Microsoft, OYO in alliance to co-develop travel, hospitality products

Microsoft and hospitality firm OYO have entered a multi-year strategic alliance to co-develop next-gen travel and hospitality products and technologies, the companies said on Thursday. "OYO will adopt Microsoft Azure as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. The solutions will be geared to benefit patrons who operate the small and medium hotel and home storefronts," the companies said in a joint statement. Microsoft has also made a strategic equity investment in OYO, it added. Earlier in August, in an RoC filing, OYO had said that Microsoft Corporation has invested nearly USD 5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares on a private placement basis. "We are excited to join hands with Microsoft in our constant endeavor to improve business opportunities for the small and independent hotel and homeowners, and to redefine experiences for

Oyo in talks with investment banks for managing its $1.5-bn IPO: Sources

SoftBank-backed Oyo is eyeing valuation range of $14 bn-$16 bn, say sources close to the development

Oyo launches self-onboarding tool for hotels to list in 30 minutes

Current onboarding time is 15 days. Oyo 360 tool provides a two-click platform for enrolment on its platform and offers three benefits of growth, partnership, and network

Oyo raises $5 million from Microsoft at $9.6 billion valuation

The company is aiming to transform itself to a global full-stack technology provider for small and mid-sized hotels and homes

Tech giant Microsoft Corporation invests $5 million in OYO

Tech giant Microsoft Corporation has invested nearly USD 5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares

Oyo to hire 300 tech employees over six months for multiple roles

Profiles include software development, engineering and product managers, designers, data scientists across entry-level to senior leadership roles

OYO to hire over 300 tech professionals to expand tech, product teams

Hospitality firm OYO on Thursday said it is looking to hire over 300 technology professionals across entry-level to senior leadership roles during the next six months. The company seeks to hire full-stack teams with key skill sets and expertise in the areas of Machine Learning, Data Engineering & Information Security, Android and iOS developers, OYO said in a statement. The company is set to introduce several innovations and is committed to investing in technology, further optimising revenues for hotel owners, while improving user experience for customers, it added. The hiring will play a critical role in accelerating OYO's transformation to a global full-stack technology provider for small and mid-sized hotels and homes, the statement said. The company has already begun onboarding over 50 mid-level tech talent and around 150 campus recruits from top universities across India, it added. "We've been blessed to have a diverse pool of tech talent and believe that each new bright mind

SoftBank-backed Oyo shortlists 3 investment banks for $1.2-bn IPO: Report

The hotel aggregator, in which SoftBank owns a 46% stake and is one of its biggest bets, has endured months of layoffs, cost cuts and losses during the global health crisis

Microsoft looks to tap into Oyo before its potential IPO: Report

The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said

NCLAT closes insolvency proceedings against Oyo and its subsidiary

NCLAT has closed proceedings for insolvency of Oyo's subsidiary Oyo Hotels and Homes Private Limited and allowed Oyo's plea for setting aside the Insolvency and Bankruptcy Code case against OHHPL.

Oyo-NCLT case: Hotelier to withdraw insolvency plea against Oyo unit

Rakesh K Yadav says he got Rs 16 lakh as part of settlement

Oyo Hotels seeks to raise $600 mn loan, offers generous terms to investors

Oyo's loan also features maintenance covenants, which are usually only included for companies that are considered risky by investors.

Softbank-backed Oyo seeks $600-million loan amid virus surge: Report

Funds sought by hotel startup to bolster balance sheet, service older loans

Moody's assigns first-time 'B3' ratings to OYO, outlook stable

Moody's CFRs are opinions of a corporate family's ability to honor all of its financial obligations

Oyo announces bereavement policy for Covid-19-impacted staff and families

Eight months' pay in full to family of deceased, term insurance payout equalling three years' annual pay, education support for children, medical cover for survivors

OYO to show vaccination status of partner hotels' staff on its app

Hospitality firm OYO said it will show Covid vaccination status of the staff of its partner hotels on its app as it believes that such initiative will be a key factor in building trust among consumers

NCLAT orders stay on CoC formation in proceedings against subsidiary: Oyo

OYO said the NCLAT has ordered a stay on the formation of committee of creditors in proceedings under the Insolvency and Bankruptcy Code against its subsidiary Oyo Hotels and Homes Pvt Ltd

NCLT admits insolvency plea against Oyo unit, firm challenges it

OYO founder took to Twitter to clarify on rumours that the hotel aggregator chain had filed for bankruptcy