New Delhi: Private investors have approached travel tech platform Oyo and it may raise equity at a valuation of up to US$4 billion, founder Ritesh Agarwal told employees at a townhall on Wednesday, sources said.
The SoftBank-backed IPO-bound firm had reported a profit after tax (PAT) of Rs 99.6 crore (USD 12 million) in the 2023-24 financial year, its first net profitable year.
It reported adjusted EBITDA of Rs 888 crore (US$107 million) for the full financial year, up from Rs 274 crore (US$33 million) in FY20, sources said citing a presentation shared at the townhall. Was. ) more than.
Oravel Stays Ltd, operator of travel-tech company Oyo, will re-file initial public offering (IPO) documents with the Securities and Exchange Board of India (SEBI) following the refinancing of its US$450 million Term Loan B (TLB).Low interest rates were reported last week. Oyo has also been approached by friendly investors and is looking to further reduce its debt through a small offering at a valuation of US$3-4 billion or Rs 38-45 per share. Considering raising an equity round. Aggarwal told the staff at the town hall. Can do."
In FY24, OYO added around 5,000 hotels and 6,000 homes globally.The gross booking value (GBV) per month per storefront for hotels was approximately R3.32 lakh (USD 4,000).
The travel tech platform's gross margin increased to Rs 2,500 crore (US$302 million) in FY2014 from Rs 2,350 crore (US$283 million) in FY2013.
Operating costs also improved, falling from 19 per cent of GBV in FY2013 to 1 per cent of GBV in FY2014, sources said. Agarwal shared, “This profitability was driven by improvement in operating performance, stable gross margins, cost efficiency and interest reduction. Cost after partial prepayment of USD 195 million in debt through buyback process in Q3 FY24."For FY2015, we also expect to grow our revenues and GBV while continuing our profit growth trajectory."
OYO recently repurchased US$195 million (Rs 1,620 crore) of debt. The buyback process involved repurchase of 30 per cent of Ter Loan B outstanding till June 2026.
Aggarwal said the company may consider buyback before cash flow. Refinancing will reduce the interest rate from 14 per cent to 10 per cent, resulting in annual savings of Rs 124-141 crore and extend the repayment date to 2029.
The SoftBank-backed IPO-bound firm had reported a profit after tax (PAT) of Rs 99.6 crore (USD 12 million) in the 2023-24 financial year, its first net profitable year.
It reported adjusted EBITDA of Rs 888 crore (US$107 million) for the full financial year, up from Rs 274 crore (US$33 million) in FY20, sources said citing a presentation shared at the townhall. Was. ) more than.
Oravel Stays Ltd, operator of travel-tech company Oyo, will re-file initial public offering (IPO) documents with the Securities and Exchange Board of India (SEBI) following the refinancing of its US$450 million Term Loan B (TLB).Low interest rates were reported last week. Oyo has also been approached by friendly investors and is looking to further reduce its debt through a small offering at a valuation of US$3-4 billion or Rs 38-45 per share. Considering raising an equity round. Aggarwal told the staff at the town hall. Can do."
In FY24, OYO added around 5,000 hotels and 6,000 homes globally.The gross booking value (GBV) per month per storefront for hotels was approximately R3.32 lakh (USD 4,000).
The travel tech platform's gross margin increased to Rs 2,500 crore (US$302 million) in FY2014 from Rs 2,350 crore (US$283 million) in FY2013.
Operating costs also improved, falling from 19 per cent of GBV in FY2013 to 1 per cent of GBV in FY2014, sources said. Agarwal shared, “This profitability was driven by improvement in operating performance, stable gross margins, cost efficiency and interest reduction. Cost after partial prepayment of USD 195 million in debt through buyback process in Q3 FY24."For FY2015, we also expect to grow our revenues and GBV while continuing our profit growth trajectory."
OYO recently repurchased US$195 million (Rs 1,620 crore) of debt. The buyback process involved repurchase of 30 per cent of Ter Loan B outstanding till June 2026.
Aggarwal said the company may consider buyback before cash flow. Refinancing will reduce the interest rate from 14 per cent to 10 per cent, resulting in annual savings of Rs 124-141 crore and extend the repayment date to 2029.
