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OYO may raise equity at $4 billion valuation

PTI

Updated At : 12:09 PM May 23, 2024 IST

New Delhi, May 22

Travel tech platform OYO, which is preparing to launch its maiden public issue, is likely to raise equity funds from institutional investors at a valuation of USD 3-4 billion, its founder Ritesh Agarwal told employees on Wednesday, according to sources.

The IPO-bound firm had its maiden net profitable year in FY24 when it posted a profit after tax (PAT) of Rs 99.6 crore ($12 million). The company registered a profit after tax (PAT) of Rs 100 crore in the March quarter.

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OYO may raise equity at $4 billion valuation

PTI

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