Hospitality business Oyo’s parent company, Oravel Stays (formerly known as Prism), has received shareholders’ approval to raise up to ₹6,650 crore through a fresh issue of shares as part of its proposed initial public offering (IPO). Oyo shareholders approved the proposal at an extraordinary general meeting (EGM) held on December 20, 2025. This shareholder approval for the IPO strengthens the company’s ability to raise capital from the public market in a timely manner, although this will still be subject to regulatory approvals and market conditions. The approval received at the EGM is an important step in Oravel Stays’ preparations for public market listing.
The shareholders of the company also approved a bonus issue of equity shares in the ratio of one fully paid-up equity share for every 19 existing equity shares. The company’s proposals were approved by an overwhelming majority of shareholders. According to an email sent by the company’s founder, Ritesh Agarwal, to the company’s management committee and shareholders in September, OYO reported a profit after tax (PAT) of over ₹200 crore in the first quarter of the current financial year. According to an email sent by Ritesh Aggarwal to the company’s management committee, OYO’s PAT more than doubled year-on-year from just ₹87 crore in Q1FY2025.
Oyo’s revenue also increased by 47 percent year-on-year
The company’s revenue increased to ₹2,019 crore, an increase of 47 per cent compared to ₹1,371 crore in Q1FY2025, the email said. Furthermore, the company’s gross booking value (GBV) reached ₹7,227 crore in Q1FY2026, an increase of 144 per cent compared to ₹2,966 crore in Q1FY2025. Ritesh Aggarwal said this was due to the opening of new hotels and double-digit same-store growth, premium products and better room utilization.
