As travel-tech startup, OYO Hotels reduces its losses and recovers from the pandemic, the company revives its plan to launch its initial public offering.
According to reports, the SoftBank-backed company filed fresh financial documents with markets regulator Sebi as it aims for an early 2023 IPO launch.
But will investors take the risk?
Following the disastrous IPOs in the current year including financial firm Paytm, as well as the thrashing experienced by e-commerce companies Zomato and Nykaa, investors have soured on new digital offerings.
Concerns among public market investors are rising. Many analysts feel that some IPOs fail because they may have been priced aggressively, though the share performance also depends on various other parameters including industry outlook, quality of business and management.
Earlier IPO plans
This is not the first time Oyo founder Ritesh Agarwal is planning to make a stock market debut. Prior to this, the hospitality services platform had to shelve its IPO plans earlier this year as the travel industry took a hit due to covid-related restrictions.
Founded by Ritesh Agarwal, the company operates in 800 cities in more than 80 countries of the world. The company started its international operations in 2018 starting with Malaysia.