{"id":57004,"date":"2024-05-23T09:55:28","date_gmt":"2024-05-23T09:55:28","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/23\/oyo-shelves-ipo-plan-for-2nd-time-eyes-private-funding-times-of-india\/"},"modified":"2024-05-23T09:55:28","modified_gmt":"2024-05-23T09:55:28","slug":"oyo-shelves-ipo-plan-for-2nd-time-eyes-private-funding-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/23\/oyo-shelves-ipo-plan-for-2nd-time-eyes-private-funding-times-of-india\/","title":{"rendered":"Oyo shelves IPO plan for 2nd time, eyes private funding &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i3.wp.com\/static.toiimg.com\/photo\/msid-110342758,imgsize-403637.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Oyo shelves IPO plan for 2nd time, eyes private funding &#8211; Times of India\" title=\"Oyo shelves IPO plan for 2nd time, eyes private funding &#8211; Times of India\" \/><\/div>\n<div>MUMBAI: Oravel Stays, the parent company of Oyo Hotels, has withdrawn its draft IPO papers with the Sebi which it had filed in March 2023, sources told TOI. <br \/>This was Oyo&#8217;s second attempt at going public. In a townhall with employees on Wednesday, founder <!-- -->Ritesh Agarwal<!-- --> is learnt to have said that the firm is looking to raise fresh <!-- -->funding<!-- --> from investors at a <!-- -->valuation<!-- --> of $3-4 billion, about 70% lower than its peak valuation of $10 billion.Oyo declined to comment. The funding could be $70-90 million. <br \/>The firm, however, plans to refile for IPO after <!-- -->refinancing<!-- --> its $450 million loan. Oyo is close to finalising its refinancing plans where it is raising $350-450 million through a bond issuance at a rate of 9-10% per annum. &#8220;The refinancing will result in material changes to Oyo&#8217;s financial statements. According to existing regulations, it will need to revise its filings with the regulator. Since the decision for refinancing is at an advanced stage, it doesn&#8217;t make sense to continue pursuing IPO approval with the current financials. It&#8217;s prudent to <!-- -->withdraw<!-- --> the current application,&#8221; a source said. Oyo insiders claimed that Oyo posted net profits of Rs 99 crore in FY24. <br \/>Oyo had first filed for IPO in 2021, seeking to raise $1.2 billion but Sebi had asked the firm to refile updated IPO papers with relevant additions. A global tech downturn and reset in valuations nudged several new age firms to redraw its IPO plans and Oyo in its second IPO attempt had filed for a smaller IPO through the confidential route, aiming to raise $400-600 million through a fresh issuance of shares. Portions of the latest funding will be used to reduce its debt, sources said.<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n        var JarvisUrl=\"https:\/\/vsp1jarvispvt.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n        window.getFromClient(JarvisUrl, function(config){\n          if (config) {\n            loadGtagEvents(config?.isGoogleCampaignActive);\n            loadFBEvents(config?.isFBCampaignActive);\n            loadSurvicateJs(config?.allowedSurvicateSections);\n          }\n        })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/oyo-shelves-ipo-plan-for-2nd-time-eyes-private-funding\/articleshow\/110342756.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Oravel Stays, the parent company of Oyo Hotels, has withdrawn its draft IPO papers with the Sebi which it had filed in March 2023, sources told TOI. This was Oyo&#8217;s second attempt at going public. In a townhall with employees on Wednesday, founder Ritesh Agarwal is learnt to have said that the firm is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":57005,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-110342758,imgsize-403637.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[3379,289,1587,2801,273,2799,37568,55885,736,1665,55884,55883,22969,222,272,3585,20984],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/57004"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=57004"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/57004\/revisions"}],"predecessor-version":[{"id":57006,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/57004\/revisions\/57006"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/57005"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=57004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=57004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=57004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}