OYO may raise equity at $4 billion valuation

PTI

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

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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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