New Delhi: Travel tech platform OYO, which is preparing to launch its maiden public offering, is likely to raise equity funds from institutional investors at a valuation of US$3-4 billion, its founder Ritesh Agarwal told employees on Wednesday. , according to sources.
The SoftBank-backed IPO-bound firm had its first net profitable year in FY24 when it reported a profit after tax (PAT) of Rs 99.6 crore (USD 12 million).
The company reported a profit after tax (PAT) of Rs 100 crore in the March quarter, sources said.
It reported adjusted EBITDA of Rs 888 crore (US$107 million) for the full fiscal year, up from Rs 274 crore (US$33 million) in FY20, the source said, citing a presentation shared at the townhall. 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).Lower interest rates, reported last week.
"OYO has also been approached by friendly investors and is looking to raise a small equity round at a valuation of US$3-4 billion, or Rs 38-45 per share, to further reduce its debt," Aggarwal told employees at the townhall. Can do."
In FY24, OYO added around 5,000 hotels and 6,000 homes globally.
The gross booking value (GBV) per month per store for hotels was Rs 3.3 lakh (USD 4,000).
The travel tech platform's gross margins improved to Rs 2,500 crore (US$302 million) in FY2014 from Rs 2,350 crore (US$283 million) in FY2013.Operating costs also improved, reducing from 19 per cent of GBV in FY2013 to 1 per cent of GBV in FY2014, sources said.
"This profitability was driven by improvement in operating performance, stable gross margins, cost efficiency and reduction in interest costs following partial prepayment of USD 195 million in debt through the buyback process in Q FY24," Agarwal said.
“For FY2025, we also expect to grow our revenues and GBV while continuing the profit growth trajectory,” he said.
OYO had recently completed a debt buyback of US$195 million (Rs 1,620 crore). The buyback process involved repurchase of 30 per cent of Term Loan B outstanding till June 2026.
The SoftBank-backed IPO-bound firm had its first net profitable year in FY24 when it reported a profit after tax (PAT) of Rs 99.6 crore (USD 12 million).
The company reported a profit after tax (PAT) of Rs 100 crore in the March quarter, sources said.
It reported adjusted EBITDA of Rs 888 crore (US$107 million) for the full fiscal year, up from Rs 274 crore (US$33 million) in FY20, the source said, citing a presentation shared at the townhall. 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).Lower interest rates, reported last week.
"OYO has also been approached by friendly investors and is looking to raise a small equity round at a valuation of US$3-4 billion, or Rs 38-45 per share, to further reduce its debt," Aggarwal told employees at the townhall. Can do."
In FY24, OYO added around 5,000 hotels and 6,000 homes globally.
The gross booking value (GBV) per month per store for hotels was Rs 3.3 lakh (USD 4,000).
The travel tech platform's gross margins improved to Rs 2,500 crore (US$302 million) in FY2014 from Rs 2,350 crore (US$283 million) in FY2013.Operating costs also improved, reducing from 19 per cent of GBV in FY2013 to 1 per cent of GBV in FY2014, sources said.
"This profitability was driven by improvement in operating performance, stable gross margins, cost efficiency and reduction in interest costs following partial prepayment of USD 195 million in debt through the buyback process in Q FY24," Agarwal said.
“For FY2025, we also expect to grow our revenues and GBV while continuing the profit growth trajectory,” he said.
OYO had recently completed a debt buyback of US$195 million (Rs 1,620 crore). The buyback process involved repurchase of 30 per cent of Term Loan B outstanding till June 2026.
