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The Latest Breaking News from OYO

Groww investors reap bumper returns; Lightspeed’s India rethink

Happy Wednesday! Groww delivered strong gains to early investors after the IPO lock-in expired. This and more in today’s ETtech Morning Dispatch.

The Economic Times

Lightspeed eyes new India fund, plans smaller corpus of $300–350 million amid AI focus

The venture capital firm, which was initially looking to raise as much as $500 million for its fifth India fund, has now cut the target size to around $300-350 million, the people said, requesting anonymity as the discussions are private.

The Economic Times

Leaving the light on: Budget chain Motel 6 gets sold for $525 million

The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India

The Independent UK

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5 times brands got International Women's Day right

It's harder than you think.

Creative Bloq

Oyo talking to Apollo for $660 million refinance as IPO delayed

Oyo Hotels is in talks with Apollo Global Management Inc to refinance a $660 million loan as the once-high-flying startup seeks more time to cut debt following a delay in its initial public offering, according to people with knowledge of the matter.

The Times of India

Woman, 22, with 'so much to live for' found dead in city centre hotel

Paige Bartram, described as a "laughing, jokey" daughter who was "renowned for her TikTok videos", was found unresponsive at the OYO hotel in Plymouth last month

Daily Mirror

SoftBank Group founder Masayoshi Son meets startup founders in Delhi

NEW DELHI: Billionaire investor and SoftBank Group Founder Masayoshi Son on Tuesday met founders and CEOs of some prominent startups during his day-long visit to the national capital, according to sources.

The Times of India

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TV Newsance 197: Aman & Amish’s silence on Sultanpuri, Times Now Navbharat’s Haldwani ‘jihad’

The week started on a sour note. Anjali, a 20-year-old girl, died when she was dragged for nearly 13 km after a car hit her scooty in the early hours of the New Year. And for once, top anchors, from Aaj Tak to Republic, asked tough questions of the Delhi…

Newslaundry

Sebi asks Oyo to refile IPO papers

MUMBAI: Capital markets regulator Sebi has asked Oravel Stays, the parent of tech-based travel service provider Oyo, to refile its IPO papers with ‘applicable updates’. On September 30 last year, Oravel Stays had filed papers to go public through an IPO that would be worth a little over Rs 8,400…

The Times of India

IPO-bound Oyo reports Rs 63 crore profit in April-September

NEW DELHI: Travel tech firm Oyo shared its financials for the first half of FY23 with market regulator Sebi on Monday, reporting a profit of Rs 63 crore as against a loss of Rs 280 crore a year ago.

The Times of India

OYO files addendum with SEBI for its public issue; company becomes EBITDA positive

Global hospitality services platform Oyo has filed addendum to its earlier submitted draft red herring prospectus to market regulator Securities and Exchange Board of India on Monday. Read more on Dynamite News:

Dynamite News

Competition issues | Paytm, Oyo and Zomato founders among tech firms officials to meet parliamentary panel

Competition Commission of India is already probing various cases, especially in the digital space, following complaints of alleged unfair business practices

The Hindu

Delhi: Bail granted to hotelier who denied room to Kashmiri

NEW DELHI: A Delhi court has granted bail to a hotel owner accused of denying a room to a guest from Kashmir.

The Times of India

Consumer court pulls up travel aggregator Make My Trip

Asks to refund hotel booking amount, ₹1.5 lakh as punitive damages for mental agony

The Hindu

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Bristol Post

OYO Flagship The Regency in Bristol hits back at 'bed bug' backlash on Tripadvisor

The hotel franchise chain has stated their concern regarding previous accusations but believes OYO maintains 'high standards' of hygiene and customer service

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