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The Indian multinational’s owner issued a statement saying his father had passed away on 10 March

Oyo Rooms founder Ritesh Agarwal's father passes away

Oyo Rooms founder Ritesh Agarwal's father passes away
-Oyo founder Ritesh Agarwal's father dies in accident -Ritesh Agarwal's father Ramesh Agarwal died after falling from a high-rise in Gurugram -Police are currently investigating the matter

The Indian multinational&rsquo;s owner issued a statement saying his father had passed away on 10 March

Hospitality chain OYO&rsquo;s founder Ritesh Agarwal&rsquo;s father died after falling from a high-rise in Gurugram.
According to reports, the deceased fell from the building's 20th floor, leading to the fatal injuries. The city police is investigating the case, and is expected to issue a statement.
The Indian multinational&rsquo;s owner issued a statement saying his father had passed away on 10 March. He wrote: &ldquo;With a heavy heart, my family and I, would like to share that our guiding light and strength, my father, Shri Ramesh Agarwal passed away on 10 March. He lived a full life and inspired me and so many of us, every single day.&rdquo; A Gurugram senior officer said the incident occurred around 1 pm Friday and that Ramesh Agarwal fell from the flat&rsquo;s balcony. At that time, Ramesh Agarwal&rsquo;s wife, his son and his daughter-in-law were in the apartment, the officer said, adding no suicide note had been found, neither had the family complained about the death.
&nbsp;

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Year ender 2022: From Oyo to Fabindia; IPOs that can hit Dalal street in 2023

As we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023

Despite geopolitical tensions, inflationary worries, interest rate hikes and fears of recession, India witnessed over 30 Initial Public Offerings in 2022. From LIC to Adani Wilmar, the year has been great in terms of investors returns as majority of the issue has delivered positive returns on listing and are in the green since then.&nbsp;
But as we are about to step into the new year, Editorji brings you a list of IPOs, which could hit the markets in 2023.
Oravel Stays (OYO) The most anticipated and awaited IPO of 2023 is Oravel Stays, popularly known as OYO. New-age technology platform focussing on short-stay accommodation, has the largest footprint of over 157,000 hotel storefronts in India and overseas. It offers over 40 products and services to its partners and customers across 35 countries.
The company filed its draft red herring prospectus (DRHP) in October 2021 and had planned to launch its IPO in 2022. However, due to volatile market conditions and bearish market sentiment, OYO postponed its IPO, worrying that its valuation might be affected.
According to the prospects, OYO in 2023 plans to raise ₹84.3 billion out of which ₹70 billion will be from fresh issues and the remaining ₹14.3 billion through stake sale by existing investors.
2. FabIndia Next on our list is leading consumer lifestyle platform focused on authentic craft-based and organic products, Fabindia.
According to reports, FabIndia plans to raise up to ₹4,000 crore through an initial public offer and in a novel approach, the company's promoters also plan to gift more than 7 lakh shares to artisans and farmers.
The 62-year-old FabIndia operates more than 300 stores and offers a diverse portfolio of lifestyle products across apparel and accessories, home and lifestyle, personal care and organic food categories.
Also watch: <a href="https://www.editorji.com/business-news/year-ender-2022-these-coins-are-the-most-held-cryptos-in-india-1671689118989">Year ender 2022: these coins are the most held cryptos in India</a>
3. Swiggy An online food ordering and delivery platform, Swiggy is next on our list. Established in 2014 in Bangalore, Swiggy currently serves over 500 cities in India.
Apart from food delivery, Swiggy delivers groceries and packages through Swiggy Instamart and Genie.
Currently, the company has partnerships with more than 150 thousand restaurants and has a strong fleet of over 260 thousand delivery executives delivering food to its users.
Swiggy plans to raise around US$1 bn ( ₹81.31 bn) through IPO in 2023. It was already gearing up for an IPO and hired JP Morgan and ICICI Securities to run its books.
4. Go First
Fourth on our list is the Wadia Group's Go First (formerly Go Air), an ultra-low-cost carrier in India.
Founded in 2005, Go First carried over 80 m passengers across 39 destinations, including ten international destinations and comprises 57 aircraft.
It is one of the fastest-growing airline companies, with a market share of 10.8% in 2020. The company filed its DRHP in May 2021 and planned to launch its IPO in early 2022. However, the company delayed the IPO because of weak consumer sentiment around aviation stocks. Going forward, Go First aims to launch its IPO in 2023. The company plans to use the funds to repay its debt and other obligations.
5. Hosana Consumer Last on our list is a natural beauty and personal care company, Hosana Consumer, popularly known as Mamaearth.
Founded in 2016 as a baby care brand, Mamaearth is now a beauty and skincare brand which operates in India, South East Asia, and the Middle East. The company operates as an omnichannel brand and sells its products online and offline.
So far, Mamaearth has raised a total of US$111.6 mn ( ₹9.07 bn) in funding over eight rounds from investors such as Sequoia India, Stellaris Ventures, and Fireside Ventures.
The company announced its plans to raise US$300 m ( ₹24.39 bn) through IPO in 2023 and will soon draft its prospectus. It plans to use the funds to set up offline stores across the country.

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

OYO to refile updated draft IPO papers by mid February

OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23

Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month.
Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates.
<h3>OYO IPO</h3>
"We are working on updating all key sections simultaneously. Responsibilities have been divided among different teams, with senior company leaders driving the collaboration with the Book Running Lead Managers, essentially the IPO bankers, the lawyers and the auditors.
"We are keen on refiling the draft red herring prospectus (DRHP) by middle of February 2023, if not earlier," a company spokesperson said.
The company said Sebi in its letter had stated that "the disclosures contained in present DRHP do not take into account the material changes/disclosures arising from Updated financial statements as filed through addendums leading to revised period for disclosures which in turn leads to necessities to make material updates in Risk Factors, Basis of Offer Price, Outstanding Litigations and update other relevant sections of DRHP".
OYO's last submission to Sebi was the updated financial results of the first half of financial year 2022-23.
The company had earlier indicated that the process of refiling the comprehensive document could take up to 2-3 months.
In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO.
The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 7-8 billion instead of the USD 11 billion it was targeting initially.

With the laying off of 600 employees and hiring of 250 fresh members, the net downsizing will be around 350. This accounts for nearly 10 per cent of Oyo's 3,700-employee base

Oyo to downsize 600 employees, hire 250 executives 

With the laying off of 600 employees and hiring of 250 fresh members, the net downsizing will be around 350. This accounts for nearly 10 per cent of Oyo's 3,700-employee base

Online hotel aggregator Oyo is laying off 600 employees in technology and corporate verticals. However, as part of wide-ranging changes in their organisational structure, Oyo plans to hire 250 new employees for partner relationship management and business development teams. The announcement was made on Saturday by Oyo Group Ritesh Agarwal in a statement to the company.
"OYO will downsize 10 per cent of its 3,700-employee base, which includes fresh hiring of 250 members and letting go of 600 employees," a statement said. Product and engineering teams are being merged for smoother functioning, it added.
Ritesh Agarwal, Founder and Group CEO, OYO, said, "We will be doing all that we can to ensure that most of the people we are having to let go, are gainfully employed. Every member of the OYO team and I myself will proactively endorse the strength of each of these employees.
"It is unfortunate that we are having to part ways with a lot of these talented individuals who have made valuable contributions to the company. As OYO grows and a need for some of these roles emerges in the future, we commit to reaching out to them first and offering them the opportunity," Agarwal added.
&nbsp;

The regulator ordered a detailed investigation into the matter in October 2019




CCI slaps ₹400-crore penalty on MakeMyTrip-Goibibo, OYO

MakeMyTrip and Goibibo have been asked by the regulator to ensure fair and transparent access to hotels as well as to comply with various directions


Competition Comm slaps penalties totalling Rs 392 cr

The regulator ordered a detailed investigation into the matter in October 2019
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The Competition Commission of India (CCI) imposed monetary penalties of ₹223.48 crore on the Nasdaq-listed MakeMyTrip-Goibibo and ₹168.88 crore on OYO for indulging in anti-competitive conduct in the hotel segment of their business and thereby contravened the Competition law. MakeMyTrip and Goibibo have been asked by the regulator to ensure fair and transparent access to hotels as well as to comply with various directions. The 131-page order comes after the Competition Commission of India found the two platforms and OYO to have indulged in unfair business practices by way of anti-competitive agreements. It is also the highest cumulative penalty imposed by CCI on entities in the digital space.
The regulator ordered a detailed investigation into the matter in October 2019 following a complaint by the Federation of Hotel &amp; Restaurant Associations of India (FHRAI). Later, complaints from FabHotels and Treebo were clubbed.

4 held for filming couples in intimate situation by extortion gangs in Noida hotel

According to police Vishnu and Abdul were involved in secretly recording couples in OYO rooms.&nbsp;

Four men were arrested by Noida Police for their alleged involvement in secretly filming couples by planting hidden cameras at OYO rooms and later extorting money by blackmailing the couples .&nbsp;
The accused men identified as Vishnu Singh, Abdul Wahav, Pankaj Kumar and Anurag Kumar are members of 3 different gangs which are involved in extortion, supplying of SIM cards and bank accounts illegally and running an unauthorised call centre
According to police Vishnu and Abdul were involved in secretly recording couples in OYO rooms.&nbsp;
The arrests were made by police while investigating a single extortion case filed by a couple who told police that after their recent visit to a hotel, they had been getting extortion calls.&nbsp;
They accused claimed to have filmed them in intimate intimate situation and threatened of circulating the videos online
Also watch: <a href="https://www.editorji.com/india-news/local/jharkhand-techie-allegedly-gang-raped-by-10-men-12-detained-1666441236042">Jharkhand techie allegedly gang-raped by 10 men, 12 detained</a>
ADCP (Central Noida) Saad Miya Khan said, &ldquo;We had information that a person had recently stayed in a room with his female friend and a few days later, a video of their private moment was sent to him along with demands for money. The accused had booked the same room a few days before and had installed the camera. Whenever a couple was seen on the camera, they would profile them and send them their intimate videos on their social media accounts and phones.&rdquo; reported the Indian Express.&nbsp;
With Inputs from PTI

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players.
In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week.
The sell-off followed reports that its largest investor SoftBank has cut the valuation of the hospitality platform by 20 per cent to USD 2.7 billion in its books, said a source.
When OYO updated its financials in its draft prospectus last month, reporting positive EBIDTA besides the narrowing of losses, the company's share price in the private market had risen to Rs 94 per share.
However, in the subsequent days following reports of the markdown of OYO's valuation by SoftBank, the company's valuation dipped by nearly 13 per cent to Rs 81 per share, said the source.

IPO-bound OYO valuation dips

IPO-bound OYO valuation dips in market after reported markdown by investor SoftBank

When it filed the draft prospectus for its initial public offer, OYO was initially looking at a valuation of around USD 10 billion but later on prepared to settle for a lower valuation at around USD 7-8 billion

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books.
In the week ended September 30, 2022, nearly 12.3 lakh shares of the company were sold in the private market as compared to over 1.6 lakh shares sold in the previous week.
When OYO updated its financials in its draft prospectus last month, reporting positive EBIDTA besides the narrowing of losses, the company's share price in the private market had risen to Rs 94 per share.
However, in the subsequent days following reports of the markdown of OYO's valuation by SoftBank, the company's valuation dipped by nearly 13 per cent to Rs 81 per share.&nbsp;

As travel-tech startup OYO Hotels reduces its losses and recovers from the pandemic, the company revives its plans 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.
 
 
OYO had filed for its draft IPO papers in 2021 with the Sebi, and had thereafter received an in-principle nod from BSE and NSE to launch the offer. The OYO IPO consisted of a fresh issue of shares of up to Rs 7,000 crore and an offer-for-sale of as much as Rs 1,430 crore at the time. 
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. 

Oyo plans its IPO early 2023 but will investors take the risk? 

Oyo plans its IPO in early 2023 but will investors take the risk? 

This is not the first time Oyo is planning to make a stock market debut. OYO had filed for its draft IPO papers in 2021 as well.&nbsp;

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?&nbsp;
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&nbsp;
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.&nbsp;

Days after hotel aggregator unicorn OYO filed fresh financial documents with the Securities and Exchange Board of India (Sebi) for its IPO, SoftBank cuts the internal valuation of Ritesh Agarwal-run Oyo to $2.7 billion. 
SoftBank is the largest shareholder and holds nearly 47% stake in OYO. 
The Bloomberg report also said that the hospitality giant is expecting an approval from the Securities and Exchange Board of India soon for its much-awaited public debut, and the startup is eyeing a valuation of $5 Bn for its initial public offering (IPO) early next year. 
The lodging firm had reached a valuation of $10 billion in a 2019 funding round.
According to a report, Oyo in a statement said that it was confident that its valuation shouldn’t have market down given its recovering business performance.
 

SoftBank cuts valuation of IPO-bound OYO to $2.3 bn 

<div class="abstract-item-text__d2d4dde8">Oyo is eyeing a public market debut in early 2023</div>

Days after hotel aggregator unicorn OYO filed fresh financial documents with the Securities and Exchange Board of India (Sebi) for its IPO, SoftBank cuts the internal valuation of Ritesh Agarwal-firm to $2.7 billion.&nbsp;
SoftBank is the largest shareholder and holds nearly 47% stake in OYO.&nbsp;
The Bloomberg report also said that the hospitality giant is expecting an approval from the Securities and Exchange Board of India soon for its much-awaited public debut, and the startup is eyeing a valuation of $5 Bn for its initial public offering (IPO) early next year.&nbsp;
According to a report, Oyo in a statement said that it was confident that its valuation shouldn&rsquo;t have market down given its recovering business performance.
The lodging firm had reached a valuation of $10 billion in a 2019 funding round.
Meanwhile, Oyo&rsquo;s deliberations about its IPO aren&rsquo;t final and its plans could still change, depending on market conditions.

SatyaNadella-run Microsoft has invested $5 million in SoftBank-backed Oyo,&nbsp;ahead of the Indian hotel chain's plan to go public.
Oyo has kicked off Series F2 round and has allotted 5 equity shares and 80 preference shares to Microsoft corporation at an issue price of $58,490 per share to raise $5 million, regulatory filings show.
The deal comes at the backdrop of hospitality unicorns'&nbsp;preparation to launch an Initial Public Offering (IPO).&nbsp;
According to reports, Oyo is reportedly looking at raising $1.2 billion through the public offering that would potentially happen by end of this year.
One of India's most valuable startups, Oyo has aggressively expanded to several global markets comprising Europe, US and Southeast Asia in recent years.&nbsp;
&nbsp;

IPO-bound OYO's valuation climbs as Microsoft invests $5 million 

SatyaNadella-run Microsoft investss&nbsp;$5 million in SoftBank-backed Oyo,&nbsp;ahead of the Indian hotel chain's plan to go public.
&nbsp;

Microsoft invests $5 mn in&nbsp;Oyo&nbsp;ahead of its expected IPO
Softbank-backed&nbsp;Oyo&nbsp;plans to raise $1.2 bn through its IPO&nbsp;by year-end
In recent years,&nbsp;Oyo expanded&nbsp;its business in US, Europe and Southeast Asia market
OYO&nbsp;allotted 5 equity shares &amp; 80 preference shares to Microsoft

The deal comes in the backdrop of hospitality unicorns'&nbsp;preparation to launch an Initial Public Offering (IPO).&nbsp;
&nbsp;

Satya Nadella-run Microsoft has invested $5 million in SoftBank-backed Oyo,&nbsp;ahead of the Indian hotel chain's plan to go public.
Oyo has kicked off Series F2 round and has allotted 5 equity shares and 80 preference shares to Microsoft Corporation at an issue price of $58,490 per share to raise $5 million, regulatory filings show.
The deal comes at the backdrop of hospitality unicorns'&nbsp;preparation to launch an Initial Public Offering (IPO).&nbsp;
According to reports, Oyo is reportedly looking at raising $1.2 billion through the public offering that would potentially happen by the end of this year.
One of India's most valuable startups, Oyo has aggressively expanded to several global markets comprising Europe, US and Southeast Asia in recent years.&nbsp;
&nbsp;

Hospitality platform Oyo has reportedly hired investment bankers to kickstart the process for a proposed IPO this year. 


Oyo ready to book itself in for an IPO this year, Microsoft also set to check in

Softbank&nbsp;backed Oyo&nbsp;hires investment bankers, here is what you can expect from the IPO

Startup IPO Street

Oyo&nbsp;hires investment bankers, likely to file for DRHP&nbsp;this year as per reports.&nbsp;

Looking to check in to the IPO&nbsp;party on Dalal&nbsp;Street, Hospitality platform Oyo&nbsp;has reportedly hired investment bankers to kickstart the process for a proposed IPO&nbsp;this year.&nbsp; Reports indicate&nbsp;SoftBank-backed Oyo&nbsp;may be looking to raise $1.2 billion dollars, though the size hasn&rsquo;t been finalised yet. <a href="https://www.editorji.com/story/pandemic-pain-pushes-oyo-to-hunt-for-cash-as-it-looks-to-raise-600-million-1621590178233" target="_blank">Oyo&nbsp;</a>is already reportedly in talks with Microsoft for raising funds that would value the company at $9 billion.&nbsp;
Also Watch:&nbsp;<a href="https://www.editorji.com/story/chemplast-sanmar-ipo-analysts-recommed-buy-all-details-here-1628578456987" target="_blank">Chemplast Sanmar&nbsp;IPO: Analysts recommed 'buy'; all details here</a> Ritesh Agarwal-founded firm has&nbsp;SoftBank, Sequoia Capital, Lightspeed India, Airbnb, Didi,&nbsp;Grab as it&rsquo;s investors.

oyo rooms

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