Wednesday, Sep 28, 2022

Oyo Hotels


SoftBank-backed Oyo seeks to resurrect IPO after growth resumes

September 19, 2022 12:14 pm

The hotel-booking company filed fresh financial documents on Monday and is now targeting an initial public offering in early 2023 provided that India’s stock market continues to hold up and economic conditions improve, according to people familiar with the matter.

Small businesses can avail up to 60% discount on stay in OYO hotels from June 27-July 3

June 24, 2022 6:47 pm

The scheme, available for small and medium scale businesses, is being offered on the occasion of World MSME Day, the OYO said in a statement.

Kashmiri businessman denied hotel room: cops file FIR, OYO delists it

March 25, 2022 8:07 am

Police registered a case against the hotel for denying the man accommodation and blaming them for it.

Two killed in fire at Dwarka OYO hotel; owner, manager arrested

August 16, 2021 8:51 pm

An OYO spokesperson said, "Safety is always our top priority. The concerned property is closed and sealed till further notice."

Explained: Why did NCLAT dismiss insolvency proceedings against OYO subsidiary?

July 10, 2021 8:31 am

Insolvency proceedings against Oyo have been dismissed by the NCLAT. Why was the company undergoing insolvency proceedings, and why did the NCLAT allow withdrawal despite unresolved claims by other operational creditors?

Explained: Why has OYO moved NCLAT challenging insolvency plea against a subsidiary?

April 08, 2021 8:14 am

The Ahmedabad bench of NCLT had on April 1 admitted an insolvency plea against OHHPL after a creditor approached the tribunal claiming a default of Rs 16 lakh

Oyo denies seeking bankruptcy after $22,000 claim

April 07, 2021 7:07 pm

Oyo Hotels founder Ritesh Agarwal tweeted Wednesday his company had initially disputed an unidentified supplier’s claim for 16 lakh rupees or about $22,000, but eventually paid “under protest.”

Oyo furloughs thousands of workers in setback for SoftBank

April 09, 2020 1:14 pm

Oyo has more than $1 billion of cash in the bank and is exploring options to remain viable over at least the next 36 months, one of the people said. SoftBank shares rose as much as 3.5% in Tokyo trading.

‘OYO raises $807 mn from SoftBank, RA Hospitality’

March 18, 2020 12:59 am

The latest investment will take OYO’s total fund count to over $2 billion. The bulk of the fresh funds will be used to expand its business in the US, the company had said earlier.

SoftBank-backed Oyo to cut about 5,000 jobs in overhaul

March 05, 2020 8:32 am

The Indian startup, Oyo Hotels, is reducing staff in China, the US and its home country as it seeks to boost profitability.