OYO founder Ritesh Agarwal told employees in an internal town hall on March 27th that it expects to clock adjusted EBITDA of nearly Rs 800 crore ($100 m) in the upcoming financial year 2024. It is roughly 3x of FY2023 level according to RLC estimates. The Company’s current cash corpus on the balance sheet is Rs 2700 crore ($328 m).
At the same time the Company takes steps to support its upcoming IPO in the weak economic environment. Some sources say that in the new filing to the regulator SEB the Company showed that it plans to reduce the number of new shares to be offered at IPO by 2/3 and existing investors will not sale the shares at the offering.
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https://economictimes.indiatimes.com/markets/stocks/earnings/oyo-tells-employees-it-expects-nearly-rs-800-crore-adjusted-ebitda-in-fy24/articleshow/99029110.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
https://economictimes.indiatimes.com/tech/startups/softbank-backed-oyo-to-reduce-planned-ipo-by-two-thirds-amid-tech-headwinds/articleshow/99031932.cms