Oyo has one year for its IPO debut
- After cost cutbacks and a travel rebound reduced losses, Oyo Hotels, a once-hot Indian business, is resuming stock-market hopes.
- According to sources, the hotel-booking business submitted new financial paperwork on Monday and is aiming an IPO in early 2023 if India’s stock market holds up and economic conditions improve.
- Oyo submitted preliminary IPO paperwork in 2021, but the pandemic slowed expansion and required thousands of employment cuts.
- Oyo lost 18.9 billion rupees ($237 million) in the year ending March 2022, virtually halving from the previous year. The bankers’ IPO document update repeated previously revealed statistics.