OYO IPO: how to trade OYO shares

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When is the OYO IPO date?

OYO Rooms (commonly known as OYO), the Indian hospitality and travel technology company, has long been preparing for an initial public offering (IPO). After several delays since its first draft red herring prospectus (DRHP) in 2021, reports suggest the company now aims to refile in November 2025, with a listing targeted for 2026 (source: Economic Times).

OYO is expected to seek a valuation of $7-8bn (source: Times of India), down from earlier targets of $10-12bn, reflecting both volatile market conditions and the company’s ongoing restructuring. Still, even at this level, OYO would represent one of the largest travel tech IPOs from India.

Key factors influencing the IPO timing include:

• Travel industry recovery: global travel demand has rebounded strongly post-pandemic, particularly in domestic and budget segments where OYO is strongest.
• Financial performance: OYO has reported narrowing losses and stronger adjusted EBITDA figures, which it hopes will appeal to public investors.
• Debt and restructuring: the company has reduced its debt burden and scaled back unprofitable markets, a move designed to improve investor confidence.
• Regulatory approvals: the listing is subject to approval from the Securities and Exchange Board of India (SEBI).
• Competitive landscape: with rivals like Airbnb and Booking Holdings thriving, OYO will want to show it can capture growth in emerging markets.

OYO first filed a draft prospectus in 2021 for a $10bn listing, but market volatility and losses forced delays in 2022 and 2023. Investors like SoftBank and Airbnb have been patient, but pressure is mounting for an exit.

If approved, the IPO is expected to take place on India’s NSE and BSE exchanges, with potential secondary listings being explored.

What is OYO?

OYO is a hospitality technology platform that aggregates budget hotels, guesthouses, and short-term rentals, offering them under a unified brand with standardised services. Founded in 2013 by Ritesh Agarwal, OYO quickly expanded from India into Southeast Asia, Europe, and beyond.

The company partners with small hotel owners, upgrading their properties with OYO branding, technology systems, and operational support. This enables hotels to improve occupancy rates, while customers get affordable, standardised lodging. OYO also operates in vacation rentals, competing with Airbnb and Vrbo.

Key milestones in OYO’s history

• 2013Founded by Ritesh Agarwal at age 19; launches as Oravel Stays.
• 2015–2017Rapid expansion across India; begins international growth into China and Southeast Asia.
• 2018Enters the UK and US markets; SoftBank invests heavily, valuing OYO at $5bn+.
• 2019Aggressive global push; expands into 80 countries at peak.
• 2020Covid-19 severely impacts travel; OYO retreats from several markets and reduces workforce.
• 2021Files DRHP in India for a $10bn+ IPO, later delayed.
• 2023–2024Focuses on profitability, reduces debt, improves tech stack.
• 2025Plans to refile IPO with a valuation of $7-8bn.

.OYO’s key features

• Tech-driven operations – property management software, booking platforms, and analytics tools for partners.
• Budget focus – targets mid-market and economy travelers in emerging markets.
• Global footprint – active in 35+ countries, with a strong presence in India, Europe, and Southeast Asia.
• Diversified portfolio – budget hotels, vacation rentals, co-working spaces, and cloud kitchens (small scale).
• Strong backers – SoftBank, Sequoia Capital India, Lightspeed Venture Partners.

OYO’s platform approach is what makes it unique. Unlike traditional hotel chains that own or lease properties, OYO leverages partnerships and technology to scale rapidly without heavy asset ownership.

Its proprietary OYO OS system provides booking management, dynamic pricing, housekeeping schedules, and payments in one dashboard. By embedding technology deeply into small hospitality businesses, OYO has built one of the largest global hotel networks by room count.

One of India’s youngest billionaires

Founder Ritesh Agarwal’s story is central to OYO’s identity – launching the firm at 19, backed by Peter Thiel’s fellowship, and later becoming one of India’s youngest billionaires. OYO at its peak expanded into 80 countries, but unsustainable growth forced retrenchment.

It has since exited China and scaled back US operations, focusing instead on India and Europe, where unit economics are stronger. This pivot has been crucial in building a path toward profitability.

How does OYO make money?

OYO generates revenue through a commission and subscription model.

Historically, OYO relied heavily on commissions, which made revenues volatile during COVID-19. Since then, it has diversified into subscription-based revenue, giving more predictability. It also offers dynamic pricing tools and payment services that act as add-ons for hotel partners, creating incremental revenue.

A growing share of revenue now comes from OYO’s proprietary OYO OS platform, which offers hotels digital check-in, dynamic pricing tools, and integrated payments. These tech services provide higher-margin revenue compared to room commissions and are offered on a subscription basis. This move helps OYO stabilise cash flow and reduce reliance on volatile travel cycles.

What might influence the OYO live stock price?

Once listed, OYO’s stock performance will depend on both internal execution and broader market forces.

Macroeconomic and sector trends

The recovery of global and domestic travel will be a key driver of OYO’s valuation. Rising disposable incomes in India and Southeast Asia, along with growing demand for affordable accommodations, support its growth story. However, travel remains sensitive to macro shocks – from fuel price hikes to geopolitical instability.

Company fundamentals

Investors will closely watch OYO’s revenue growth, occupancy rates, and adjusted EBITDA margins. Narrowing losses are positive, but sceptics will want proof of sustainable profitability. Debt reduction and a stronger balance sheet are also critical.

Competition & innovation

OYO faces stiff competition from global giants like Airbnb, Booking Holdings, and Expedia, as well as local players. Its ability to differentiate through technology (dynamic pricing, app-based booking, data-driven property management) will determine its edge.

Regulatory and governance landscape

OYO has faced criticism over disputes with hotel partners and regulatory challenges in markets such as China and the U.S. Investors will watch for clearer governance standards as it transitions to public markets.

Index inclusion and currency dynamics

If listed on NSE/BSE, OYO could eventually be added to Nifty indices, drawing inflows from domestic funds. However, foreign investors will also weigh currency risk from the Indian rupee.

Relationship with SoftBank

As SoftBank has significant influence over the company, markets may speculate on its post-IPO selling strategy. Large stake sales could create supply pressure on the stock.

Market sentiment and trading behaviour

As a consumer-facing tech brand, OYO’s stock may experience volatility in early trading. Retail investor enthusiasm in India could drive strong demand, but international investors may remain cautious due to its chequered history of losses and overexpansion.

You can keep your finger on the pulse of the markets with expert insight from our in-house analysts. Check out our news and analysis section for more.

How to trade OYO shares via CFDs

If OYO goes public, trading its shares via contracts for difference (CFDs) allows you to speculate on its price movements – without owning the underlying stock.

How to get started

• Choose a platformUse a trusted broker like Capital.com, offering access to thousands of shares, indices and more.
• Open an accountProvide your personal details, verify your identity, complete a short suitability questionnaire, and set your trading preferences.
• Add fundsDeposit using card or bank transfer. Start small, and manage your risk carefully.
• Track OYO’s performanceUse charts, technical indicators and price alerts to monitor the market and spot trading opportunities.
• Go long or short with CFDsThink the price will rise? Go long. Expect a drop? Go short. Apply stop-loss* or take-profit levels to manage your trades.

Note: IPOs can be volatile, especially in the early days of trading. CFDs let you act on price swings in either direction, but always apply risk management. CFDs are traded on margin, and leverage higher than 1:1 magnifies potential losses and gains.

Learn more about contracts for difference in our CFDs trading guide. *Standard stop-losses are not guaranteed. Guaranteed stop-losses incur a fee when activated.

Which hospitality and travel stocks can I trade?

While you wait for the OYO IPO, consider exploring these listed hospitality and travel names:

• Airbnb (ABNB) – leading global short-term rental marketplace.
• Booking Holdings (BKNG) – parent of Booking.com, Priceline, Agoda, and Kayak.
• Expedia (EXPE) – global travel platform with brands like Vrbo and Hotels.com.

IPO stocks are often highly volatile, and early trading can involve rapid price swings and significant risk.

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