OYO Founder and SoftBank Bet on Profit Surge Ahead of High-Stakes IPO

OYO Hotels is accelerating its plans for an IPO to meet a crucial debt repayment deadline of $383 million due by October, with lenders considering extending the deadline to 2027 if the IPO occurs this year. The company, which has been significantly impacted by the COVID-19 pandemic, is reportedly aiming for a market valuation of $5 billion - however, this valuation mark has been refuted by the company. Significant stakes are held by the founder Ritesh Agarwal and SoftBank. Agarwal's family office maintains that OYO's strong profits for the fiscal years 2024 and 2025 will inform their strategic decisions regarding the IPO

Source: Bloomberg.com