Oyo Delays IPO Plans for the Third Time
02-May 2025
Hospitality startup Oyo has reportedly delayed its planned IPO once again, scheduled for October, following objections from its key investor, SoftBank. This marks the third time the Gurugram-based company has deferred its stock market debut.
According to Bloomberg, SoftBank raised concerns about the timing of the public offering, urging Oyo to wait until it demonstrates a stronger earnings performance.
The revised IPO plan included a fresh issue of shares worth ₹7,000 crore and an Offer for Sale (OFS) amounting to ₹1,430 crore.
The delay comes despite Oyo posting a six-fold jump in net profit to ₹166 crore for Q3 FY25 (October–December), with revenue rising 31% year-on-year to ₹1,695 crore. The company became profitable for the first time in FY24, reporting a net profit after tax of ₹230 crore. However, annual revenue dipped slightly to ₹5,389 crore in FY24, down from ₹5,464 crore in FY23.
In May 2024, Oyo withdrew its draft IPO papers, which had outlined plans to raise up to $450 million via dollar bonds. Its original IPO application, filed in 2021, was returned by the stock market regulator in January 2023.
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