As part of its commitment to update its Draft Red Herring Prospectus with the financial performance till the first half of financial 2022-23, the global travel tech company OYO shared its financials with markets regulator SEBI today.
IPO-bound hospitality tech player OYO has surprised industry observers by posting a positive EBITDA of Rs 10 crore in the first quarter of FY23 -- against the backdrop of a Rs 472 crore EBITDA loss in FY22.
This additional information is expected to help investors in taking better and well-informed decisions regarding its public issue. OYO has around 1.68 lakh storefronts across more than 35 countries that benefit from its platform.
With a market giant like OYO coming on board, we are making in-roads to encourage micro-entrepreneurs in the villages and revitalizing local art & crafts and redevelopment of rural areas added the Lt Governor.
OYO is the first Indian startup to be publicly rated by Moody's and Fitch, two of the leading international rating agencies.
A company statement had said that the offer was oversubscribed by 1.7 times
Hindustan Media Ventures is promoted by HT Media Ltd which hold 74.4 per cent stake in the company.
In a statement, OYO said that it is in touch with over 50 government and private hospitals to provide accommodation support to medical first responders at affordable rates.
OYO is taking all necessary actions to mitigate COVID-19's impact and ensure long-term success and sustenance.
Yahoo Japan’s exit comes at a time when the company is facing worst of its times with widening loss in India for Oyo.
