Oyo IPO Latest News: Key bankers and senior officials of Oyo recently met SEBI to give information about the company’s business and the progress made so far. Oyo is keen to accelerate its IPO approval. It is said to have approached the regulator for partial prepayment of Oyo’s outstanding term loan B of $200 million from its books and positive comments from international rating firms Moody’s and Fitch.
Oyo bankers and senior executives also gave an update on the improvement in the company’s profits and other financial parameters in the last four quarters. In response to ET’s queries, Oyo declined to comment on the matter. Oyo has offered to work together to resolve all SEBI queries in a timely manner and has also indicated that capital market conditions are favorable for going public.
Oyo founder Ritesh Agarwal shared with employees last week that it has sequentially doubled profit after tax (PAT) to Rs 30 crore in Q3FY24. The company recorded its first profitable quarter in the second quarter of this financial year with a PAT of over Rs 16 crore.
Aggarwal also shared that Oyo has reported adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of Rs 750 crore in calendar 2023. The company is expected to post adjusted EBITDA of Rs 1,000 crore this financial year.
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