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The fresh developments comes on the back of startup raising $450 Mn through sale of dollar bonds The startup is also reportedly in talks to raise funding from family offices and a sovereign fund at marked down valuation OYO filed its DRHP in September of 2021 to raise INR 8,430 Cr ($1.2 Bn) through an initial public offering Delhi NCR-based hospitality unicorn oyo has officially withdrawn its IPO (initial public offering) documents from the market regulator SEBI. As per the SEBI document, the company has officially withdrawn its IPO papers on May 17, 2024.

The fresh development has come on the heels of OYO intending to raise $450 Mn through the sale of dollar bonds. JP Morgan is expected to lead the financing. It is said that raising of $450 Mn will result in material changes to OYO’s financial statements.



As per the regulations, this will need OYO to refile its DRHP with the market regulator with the updated numbers. The startup intends to raise this capital to refinance its term loans of around $1.2 Bn that it had taken in 2021.

Reports earlier this week suggested OYO raising a fresh funding round at marked-down valuation. The startup is said to have roped in Incred to broker talks with family offices to raise about $80 Mn to $90 Mn at a valuation of $2.3 Bn, 77% lower than the $10 Bn valuation at which it raised its last external round.

It is said that this $80 Mn – $90 Mn is a part of a larger round that is likely to see participation from a sovereign fund. Earlier, O.

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