OYO IPO is a proposed Mainboard Book Build Issue of Oravel Stays Limited, the company behind the OYO hospitality brand. The latest Updated Draft Red Herring Prospectus-I (UDRHP-I) filed with SEBI on 30 June 2026 proposes an IPO of up to ₹6,650 crore through an entirely fresh issue of equity shares. There is no Offer for Sale (OFS) in the proposed issue. The equity shares are proposed to be listed on both BSE and NSE.
The company operates a technology-enabled hospitality platform covering hotels, vacation homes and listings across multiple markets. As of 31 December 2025, the company had 293,554 storefronts across more than 35 countries, including hotels, homes and listings under its various hospitality brands.
The OYO IPO price band, IPO opening date, closing date, lot size and listing date have not yet been announced in the latest UDRHP-I. These details will be updated once the company files the final offer documents and announces the IPO schedule.
Table of Contents
IPO 2026 Details
| Particulars | Details |
|---|---|
| IPO Name | OYO IPO |
| Company Name | Oravel Stays Limited |
| Brand Name | OYO |
| IPO Status | Upcoming |
| Issue Type | Book Build Issue |
| Face Value | ₹1 per Equity Share |
| IPO Price Band | Yet to be Updated |
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| Total Issue Size | Up to ₹6,650 Cr |
| Fresh Issue | Up to ₹6,650 Cr |
| Offer for Sale | Nil |
| Listing At | BSE, NSE |
| Lot Size | Yet to be Updated |
| Minimum Investment | Yet to be Updated |
| Listing Date | Yet to be Updated |
| Pre-IPO Placement | Up to ₹1,330 Cr |
The company may consider a Pre-IPO Placement of up to ₹1,330 crore before filing the Red Herring Prospectus. If completed, the amount raised through the Pre-IPO Placement would be reduced from the fresh issue size.
IPO Important Dates
| Event | Date |
|---|---|
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| IPO Allotment Date | Yet to be Updated |
| Refund Date | Yet to be Updated |
| Share Credit Date | Yet to be Updated |
| IPO Listing Date | Yet to be Updated |
OYO IPO Important Dates include the opening date, closing date, basis of allotment, refund date, share credit date, and listing date. Investors can check these dates to track the key stages of the OYO IPO process.
Timeline (extra rows)
| Event | Date |
|---|---|
| UDRHP-I Filing | 30 June 2026 |
| Price Band Announcement | Yet to be Updated |
| RHP Filing | Yet to be Updated |
| IPO Opening | Yet to be Updated |
The OYO IPO Timeline shows the sequence of events from the opening of the IPO to the listing of shares. It helps investors follow the subscription, allotment, refund, demat credit, and listing process.
IPO Reservation
The proposed IPO follows the standard allocation framework under which not less than 75% of the Net Offer is reserved for Qualified Institutional Buyers, not more than 15% for Non-Institutional Investors and not more than 10% for Retail Individual Investors. The final number of shares available to each category will be known after the final issue size and price band are announced.
| Investor Category | Reservation |
|---|---|
| QIB | Not less than 75% |
| NII | Not more than 15% |
| Retail | Not more than 10% |
| Employee | Yet to be Updated |
IPO Lot Size
The OYO IPO lot size has not been announced in the latest UDRHP-I. The minimum investment amount for retail investors and the maximum number of lots that can be applied for will be updated after the price band and lot size are announced.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | Yet to be Updated | Yet to be Updated | ₹Yet to be Updated |
| Retail Maximum | Yet to be Updated | Yet to be Updated | ₹Yet to be Updated |
| S-HNI Minimum | Yet to be Updated | Yet to be Updated | ₹Yet to be Updated |
| S-HNI Maximum | Yet to be Updated | Yet to be Updated | ₹Yet to be Updated |
| B-HNI Minimum | Yet to be Updated | Yet to be Updated | ₹Yet to be Updated |
About OYO
Oravel Stays Limited operates the OYO hospitality platform and provides technology-enabled accommodation solutions through hotels, vacation homes and property listings. The company follows an asset-light model in which property owners, operators and other partners operate storefronts while the company provides technology, branding, distribution and operational support.
The company’s portfolio has expanded beyond its original budget-hotel offering and includes multiple hospitality formats and brands. As of 31 December 2025, the company operated 293,554 storefronts across more than 35 countries. Its network included hotels, vacation homes and listings, supported by brands such as OYO, Sunday, Townhouse, Palette, Belvilla, DanCenter, Motel 6 and Studio 6.
The company has also expanded internationally through its vacation-rental and hotel businesses. The acquisition of G6 Hospitality has increased its presence in the US market, while brands such as Belvilla and DanCenter provide exposure to vacation homes in European markets.
Business Model
OYO connects property owners and operators with customers through its technology platform and hospitality brands. The company provides services related to distribution, branding, pricing, customer acquisition, technology and operational support.
The company’s business can broadly be divided into hotels, homes and listings. Its platform also supports additional hospitality-related services and businesses, including weddings, workspaces, tours and events and other travel-related offerings.
As the business has expanded internationally, its revenue mix has also changed. For the nine months ended 31 December 2025, revenue from outside India represented a substantial portion of revenue from operations, with the United States becoming one of the largest geographic markets.
Brand Portfolio
OYO has developed a portfolio of brands serving different accommodation and hospitality segments. These include OYO, Sunday, Townhouse, Palette, Belvilla, DanCenter, Motel 6 and Studio 6.
The portfolio allows the company to address different customer requirements across budget hotels, premium and mid-market accommodation, vacation homes and other lodging formats. The international expansion has also increased the company’s exposure to hospitality markets outside India.
IPO Financial Information
The following table presents the consolidated financial information reported in the company’s IPO documents for the relevant financial years.
| Particulars | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Revenue from Operations | ₹6,252.83 Cr | ₹5,388.79 Cr | ₹5,463.95 Cr |
| EBITDA | ₹953.43 Cr | ₹1,279.98 Cr | ₹(324.42) Cr |
| Profit After Tax | ₹244.82 Cr | ₹229.58 Cr | ₹(1,286.52) Cr |
| Total Assets | ₹16,695.32 Cr | ₹6,443.47 Cr | ₹7,932.43 Cr |
| Net Worth | ₹4,763.90 Cr | ₹1,856.55 Cr | ₹1,587.91 Cr |
The company reported revenue from operations of ₹6,252.83 crore in FY2025 compared with ₹5,388.79 crore in FY2024. Profit after tax increased to ₹244.82 crore in FY2025 from ₹229.58 crore in FY2024, while the company had reported a loss in FY2023.
For the nine months ended 31 December 2025, revenue from operations stood at ₹6,940.97 crore and profit after tax was ₹748.34 crore. The period also reflected the contribution of the company’s expanded international operations.
OYO IPO KPIs & Valuation
| KPI | Value |
|---|---|
| EPS | ₹0.52 |
| P/E Ratio | Yet to be Updated |
| RoNW | 12.17% |
| NAV | ₹4.26 |
| EBITDA Margin | 9.27% |
| Debt / Equity | 2.10 |
The P/E ratio cannot be calculated until the final IPO price band is announced. The reported EPS, NAV and RoNW figures are based on the financial information available in the latest IPO disclosures.
OYO IPO Objects of the Issue
The company proposes to utilise the Net Proceeds of the IPO for the following purposes:
- Investment in Oravel Stays Singapore Pte. Ltd. for repayment or prepayment, in part or in full, of certain borrowings — approximately ₹4,987.50 crore.
- General corporate purposes.
The company may undertake a Pre-IPO Placement of up to ₹1,330 crore. If the Pre-IPO Placement is completed, the amount raised through it will reduce the fresh issue size.
OYO IPO Listing
The equity shares of Oravel Stays Limited are proposed to be listed on both BSE and NSE. The final listing date will be announced along with the IPO schedule after the company files its final offer documents.
| Exchange | Listing |
|---|---|
| BSE | Proposed |
| NSE | Proposed |
OYO IPO GMP
OYO IPO GMP is currently not available as the public issue has not opened and the company has not announced the final price band or IPO dates. Grey Market Premium is an unofficial indicator and can change before the listing.
OYO IPO GMP History
| Date | GMP | Estimated Listing Price | Estimated Gain |
|---|---|---|---|
| Yet to be Updated | Yet to be Updated | Yet to be Updated | Yet to be Updated |
OYO IPO Subscription Status
OYO IPO subscription status will be updated after the public issue opens for bidding. The latest UDRHP-I does not contain the final bidding dates or live subscription figures.
OYO IPO Subscription
| Category | Subscription |
|---|---|
| QIB | Yet to be Updated |
| NII | Yet to be Updated |
| Retail | Yet to be Updated |
| Employee | Yet to be Updated |
| Total | Yet to be Updated |
OYO IPO Review
OYO has developed a large hospitality technology platform with operations across India and international markets. Its network includes hotels, vacation homes and listings, while its brand portfolio has expanded through both organic development and acquisitions. The company had 293,554 storefronts across more than 35 countries as of 31 December 2025.
The company’s financial performance has also changed considerably from the loss-making period of FY2023. Revenue from operations increased to ₹6,252.83 crore in FY2025, while profit after tax reached ₹244.82 crore. The nine-month FY2026 period showed further growth, with revenue from operations of ₹6,940.97 crore and profit after tax of ₹748.34 crore.
At the same time, the company has significant borrowings and international operations, which are important factors when assessing its financial performance. A major portion of the proposed IPO proceeds is intended for repayment or prepayment of borrowings through investment in its Singapore subsidiary.
The IPO therefore provides investors with exposure to a large hospitality technology platform, while the final price band will be important for evaluating its valuation. Since the price band, lot size and issue dates are not yet available, a complete valuation assessment cannot be made at this stage.
OYO IPO Strengths
- Large global hospitality network across 35+ countries.
- 293,554 storefronts as of 31 December 2025.
- Diversified portfolio of hotels, homes and listings.
- Established OYO brand with multiple hospitality formats.
- Revenue and profitability improved compared with FY2023.
- International expansion provides exposure to multiple hospitality markets.
- IPO proceeds are primarily intended for debt repayment and balance-sheet requirements.
OYO IPO Risks
- The company operates in a highly competitive hospitality industry.
- A substantial portion of business comes from international markets.
- The company has significant borrowings and finance costs.
- Business performance can be affected by travel demand and economic conditions.
- Integration and performance of international acquisitions remain important.
- The company has previously withdrawn IPO plans.
- The final IPO valuation cannot yet be assessed because the price band is not announced.
OYO IPO Promoters
The promoters of Oravel Stays Limited include:
- Ritesh Agarwal
- RA Hospitality Holdings (Cayman)
- SVF India Holdings (Cayman) Limited
SVF India Holdings is a major shareholder, while Ritesh Agarwal holds shares both directly and through RA Hospitality Holdings.
OYO Management Team
| Name | Designation |
|---|---|
| Ritesh Agarwal | Founder, Chairman & Non-Executive Director |
| Aditya Ghosh | Non-Executive Director |
| Sumer Juneja | Non-Executive Director |
| Bejul Somaia | Non-Executive Independent Director |
| Dr. Deepa Malik | Non-Executive Independent Director |
| Troy Matthew Alstead | Non-Executive Independent Director |
| William Steve Albrecht | Non-Executive Independent Director |
| Ankit Tandon | Manager |
| Rakesh Kumar | Chief Financial Officer |
| Shivam Kumar | Company Secretary & Compliance Officer |
The company’s FY2025 annual report identifies Ritesh Agarwal as Founder, Chairman and Non-Executive Director, with Rakesh Kumar as Chief Financial Officer and Shivam Kumar as Company Secretary and Compliance Officer.
OYO IPO Registrar
MUFG Intime India Private Limited is the registrar and share transfer agent for the proposed OYO IPO.
| Particular | Details |
|---|---|
| Registrar | MUFG Intime India Private Limited |
| Address | C-101, Embassy 247, L.B.S. Marg, Vikhroli (West), Mumbai – 400083, Maharashtra |
| Phone | +91 810 811 4949 |
| [email protected] |
OYO IPO Lead Managers
The Book Running Lead Managers to the OYO IPO are:
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- Goldman Sachs (India) Securities Private Limited
- ICICI Securities Limited
- InCred Capital Wealth Portfolio Managers Private Limited
- Intensive Fiscal Services Private Limited
- JM Financial Limited
- SBI Capital Markets Limited
| Particular | Details |
|---|---|
| Company Name | Oravel Stays Limited |
| Registered Office | Ground Floor – 001, Mauryansh Elanza, Shyamal Cross Road, Nr. Parekh Hospital, Satellite, Ahmedabad – 380015, Gujarat |
| Corporate Office | 4th Floor, Spaze Palazo, Sector 69, Gurugram, Haryana – 122001 |
| Website | www.oyorooms.com |
| Email ID | [email protected] |
| Telephone | +91 79 41005020 / +91 124 4487253 |
How to Apply for OYO IPO
Investors can apply for the OYO IPO through their supported online trading or Demat account once the issue opens. The application can generally be submitted through the ASBA facility or UPI-supported IPO application process, subject to the applicable rules and the facilities provided by the investor’s broker and bank.
The final price band, lot size, bidding dates and application amount should be checked after the company announces the IPO schedule.
OYO IPO Allotment
OYO IPO allotment status will be available after the bidding process is completed and the basis of allotment is finalised. Investors will be able to check their allotment status through the registrar’s website or the relevant stock exchange portal using their application or PAN details.
| Event | Date |
|---|---|
| IPO Open Date | Yet to be Updated |
| IPO Close Date | Yet to be Updated |
| Basis of Allotment | Yet to be Updated |
| Refund Initiation | Yet to be Updated |
| Shares Credit | Yet to be Updated |
| Listing Date | Yet to be Updated |
OYO IPO Conclusion
OYO’s proposed IPO represents the public-market offering of a large hospitality technology platform with operations across hotels, vacation homes and listings in more than 35 countries. The company has reported a substantial improvement in financial performance from FY2023, with FY2025 revenue from operations of ₹6,252.83 crore and profit after tax of ₹244.82 crore.
The proposed ₹6,650 crore issue is entirely a fresh issue, with a major portion of the proceeds proposed for repayment or prepayment of borrowings. The final price band, issue dates and lot size are still awaited, so the valuation and minimum investment requirement cannot yet be determined.
OYO IPO FAQs
What is OYO IPO?
OYO IPO is the proposed Mainboard IPO of Oravel Stays Limited, the company behind the OYO hospitality platform. The latest UDRHP-I proposes a fresh issue of up to ₹6,650 crore.
What is the OYO IPO issue size?
The proposed OYO IPO issue size is up to ₹6,650 crore. The entire issue is proposed as a fresh issue, with no Offer for Sale.
What is the OYO IPO price band?
The OYO IPO price band has not been announced yet. It will be updated after the company files the relevant final offer documents.
What is the OYO IPO opening date?
The OYO IPO opening date has not been announced yet.
What is the OYO IPO lot size?
The OYO IPO lot size has not been announced yet.
Is OYO IPO a fresh issue or an OFS?
The proposed OYO IPO is entirely a fresh issue of equity shares. There is no Offer for Sale component.
What is OYO IPO GMP today?
OYO IPO GMP is currently not available. GMP information may become available closer to the IPO opening and remains an unofficial market indicator.
What is the final GMP of OYO IPO?
The final GMP will be updated after the IPO bidding period when the latest unofficial grey-market data becomes available.
What is the actual listing price of OYO IPO?
The actual listing price will be known on the day the equity shares begin trading on BSE and NSE. The listing date has not yet been announced.
Where will OYO shares be listed?
OYO shares are proposed to be listed on both BSE and NSE.
