OYO has not yet achieved full-year profitability. In FY2023-24, the company reported a net loss of ₹1,287 Cr on revenue of ₹5,388 Cr. However, losses have narrowed dramatically from ₹13,473 Cr in FY22, suggesting improving operational efficiency. The company has reported EBITDA-level profitability in some quarters.

Who are the promoters of OYO?

Ritesh Agarwal, the founder and CEO, is the primary promoter of OYO through his holding company RA Hospitality Holdings Cayman. He holds a significant majority stake. SoftBank Vision Fund and other institutional investors like Airbnb and Microsoft are key investors but not classified as promoters.

What is OYO's market cap?

OYO's valuation has fluctuated significantly. At its peak in 2021, OYO was valued at approximately $9-10 billion (around ₹75,000 Cr). Following financial restructuring and reduced fundraising rounds, the valuation came down considerably. In its pre-IPO filings around 2023-24, the implied valuation was approximately ₹12,000-15,000 Cr based on secondary market share prices.

Is OYO planning an IPO?

OYO filed its Draft Red Herring Prospectus (DRHP) with SEBI in late 2021, initially targeting a ₹8,430 Cr IPO. SEBI returned the DRHP with observations, and OYO refiled in 2023 with a reduced issue size. As of mid-2025, the IPO remains pending regulatory clearances and market conditions.

How do I buy OYO Rooms unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

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Is there a minimum ticket size for OYO Rooms?

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You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

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Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

OYO Rooms Unlisted Share Price | Buy OYO Rooms Pre-IPO Shares — wisefolio

Investment Thesis

Oravel Stays (OYO) is at an inflection point — losses have narrowed from ₹13,473 Cr in FY22 to ₹1,287 Cr in FY24, demonstrating significant operational improvement. With a global footprint of 157,000+ hotels across 35 countries and the Motel 6 acquisition adding US scale, OYO has the asset base for a strong IPO. However, the path to full profitability and SEBI approval for its IPO remain the critical near-term catalysts.

Pros

OYO operates in 35+ countries with over 157,000 hotel storefronts globally, making it one of the world's largest hospitality chains by property count
Significant reduction in losses: net loss narrowed from ₹13,473 Cr in FY22 to ₹1,287 Cr in FY24, demonstrating improving financial discipline
Founder Ritesh Agarwal holds majority stake through RA Hospitality Holdings, ensuring strong founder-led vision and alignment
Patented technology platform enabling dynamic pricing, demand forecasting, and hotel management for small and mid-scale properties

Cons

Company has been loss-making consistently: reported net loss of ₹1,287 Cr in FY24, raising concerns over path to sustained profitability
Revenue declined from ₹5,464 Cr in FY23 to ₹5,388 Cr in FY24, reflecting challenges in scaling revenues despite global operations
IPO plans have been repeatedly delayed since 2023 due to regulatory hurdles from SEBI and internal restructuring needs
High debt burden and significant restructuring costs following large-scale layoffs and property portfolio rationalization post-COVID

Business Segments

India & South Asia Hotels

Core budget hotel aggregation and management across India, Nepal, and Sri Lanka

International Operations

Hotel operations across Europe (OYO Vacation Homes), Southeast Asia, US, and Middle East

Co-living & Long Stay

OYO Life and OYO Townhouse catering to working professionals and students

Revenue Model

OYO earns revenue through a combination of revenue-sharing agreements with hotel partners (takes a percentage of room revenue), management fees for operating hotel properties, and direct bookings through the OYO app and website. It also earns from ancillary services including food & beverage, and experiences.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds9

Growth Plans

Successful SEBI approval and IPO listing could provide significant capital for growth

Motel 6 and Studio 6 brands in the US offer stable revenue base with ~35,000 rooms

Recovery in global travel post-COVID provides revenue tailwinds across all geographies

Industry Tailwinds

Successful SEBI approval and IPO listing could provide significant capital for growth

Recent Developments

Profitability push

OYO reported adjusted EBITDA positivity for multiple quarters in FY24, citing cost rationalization across global properties

2024-01

DRHP Refiling

OYO refiled its Draft Red Herring Prospectus with SEBI with a reduced IPO size after the original filing faced regulatory observations

2023-08

Motel 6 acquisition

OYO completed acquisition of Motel 6 and Studio 6 brands in the US for $525 million, significantly expanding US footprint

2023-04

Comparable Companies

CompanyTypeTickerMkt Cap

Indian Hotels Company (Taj)PE: 80xxListedINDHOTEL85,000 Cr

EIH Limited (Oberoi)PE: 55xxListedEIHOTEL22,000 Cr

Lemon Tree HotelsPE: 60xxListedLEMONTREE8,500 Cr

Treebo HotelsListed

Frequently Asked Questions

Oravel Stays Limited is the parent entity of OYO Hotels & Homes, a technology-driven hospitality company that aggregates and operates budget to mid-scale hotels globally. OYO partners with hotel owners, standardizes their properties under the OYO brand, and uses a proprietary tech platform for dynamic pricing, revenue management, and customer bookings. It also operates co-living (OYO Life), vacation homes (OYO Vacation Homes), and premium hotel brands (Palette Resorts, Collection O) across 35+ countries.

About OYO Rooms

Oravel Stays Limited, operating under the globally recognized brand OYO Rooms, is one of India's most prominent hospitality technology companies. Founded on 21 February 2012 by Ritesh Agarwal as Oravel Stays in Ahmedabad, Gujarat, OYO has transformed from a young entrepreneur's budget hotel aggregation startup into a global hospitality powerhouse operating in over 35 countries. Originally registered in Ahmedabad (registered address: Ground Floor-001, Mauryansh Elanza, Shyamal Cross Road, Near Parekh Hospital, Satellite, Ahmedabad, Gujarat 380015), OYO's operational headquarters is in Gurugram, Haryana. The company provides over 40 integrated products and solutions to hotel and home partners, managing over 157,000 hotel and home listings across India, Europe, Southeast Asia, and beyond. OYO's business model is asset-light and technology-driven, enabling it to standardize and improve the quality of budget and mid-scale accommodation at a global scale. The platform connects accommodation-seekers with property partners through a technology stack that includes dynamic pricing, inventory management, quality assurance, and customer relationship tools. Property partners benefit from increased occupancy and revenue, while guests receive reliable, standardized accommodation experiences. The company has demonstrated a dramatic financial turnaround. After years of significant losses and high cash burn during its aggressive global expansion phase (2018-2021), OYO achieved profitability in FY2024-25, reporting a Profit After Tax of Rs 229.58 crore. Revenue for FY2024 was reported at Rs 5,540 crore, reflecting the company's progress in optimizing its portfolio and unit economics. OYO is actively preparing for a public listing. The company filed a Draft Red Herring Prospectus (DRHP) with SEBI proposing a fresh issue of Rs 7,000 crore and an offer for sale of Rs 1,430 crore, totaling approximately Rs 8,430 crore. In August 2024, the company raised $175 million in a Series G funding round at a $2.38 billion valuation. The IPO is expected to target a valuation of $6-9 billion at listing, significantly higher than current unlisted market pricing. Directors include Ritesh Agarwal (founder), Aditya Ghosh (former IndiGo Airlines CEO), Bejul Somaia (Lightspeed Venture Partners), Deepa Malik (Paralympian and investor), and other notable board members, reflecting OYO's evolution into a board-governed corporate entity from its founder-led startup origins.

Key Milestones

Common questions about unlisted shares

How do I buy OYO Rooms unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?
Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

Oravel Stays Limited

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