Ritesh Agarwal's OYO eyes expedited IPO post profit surge, seeks SEBI nod
SEBI to address any queries promptly. They also indicated that the current capital market conditions are favorable for the company to proceed with its initial public offering.
Also Read | OYO's founder Ritesh Agarwal shares bullish outlook on holiday travel. THESE cities are almost 100% booked OYO is optimistic about a sustained increase in Profit After Tax (PAT) after achieving a twofold sequential growth to ₹30 crore in Q3 FY24, PTI reported, citing founder and CEO Ritesh Agarwal's words to employees at the company townhall on February 9, as reported by Mint earlier.
Also Read | OYO's Ritesh Agarwal anticipates continued profit growth after Q3FY24 success Speaking to employees, Agarwal said the hospitality and travel-tech firm has doubled its profits. In Q2 FY24, OYO's operator Oravel Stays saw experienced its first profitable quarter with a PAT of ₹16 crore, he said, as quoted by Mint.
Oyo, operating under the name Oravel Stays, had initially filed preliminary documents for a ₹8,430 crore IPO in September 2021. However, the company was requested to refile the documents with necessary updates and revisions by the regulator.
Read more on livemint.com
