Daily BriefsIndia

Daily Brief India: Oyo and more

In today’s briefing:

  • Oravel Stays (Oyo) Pre-IPO – Addendum Updates – Don’t Let the +ve EBITDA Mask Its Underlying Issues

Oravel Stays (Oyo) Pre-IPO – Addendum Updates – Don’t Let the +ve EBITDA Mask Its Underlying Issues

By Clarence Chu

  • Oyo (1698548D IN) is looking to raise around US$700m in its upcoming India IPO. The IPO will consist of both a primary and secondary portion.
  • Oyo runs a digital platform that serves as a hotel and home aggregator between patrons, which include owners and lessors, and customers, such as travelers and guests booking for accommodation.
  • Since our last notes, Oravel Stays (Oyo) had filed its addendum, containing both its full-year performance for FY22, and its most recent 1Q23 performance (period ending Jun 2022).

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