OYO fast-tracks IPO plans as debt deadline looms: Report
04 March 2025
Indian travel-tech giant OYO is in a race against time. The company, once a rising star in the startup world, is now pushing hard to go public before October 2024, as per the Bloomberg report. The reason? A $383 million debt repayment deadline that founder Ritesh Agarwal must meet- unless the company lists on the stock market.
According to a Bloomberg report, OYO’s creditors, including Mizuho Financial Group Inc., are insisting that Agarwal clear his dues if the IPO doesn’t happen on time. However, if OYO manages to go public this year, lenders might allow him to extend the repayment until 2027.
Indian travel-tech giant OYO is in a race against time. The company, once a rising star in the startup world, is now pushing hard to go public before October 2024, as per the Bloomberg report. The reason? A $383 million debt repayment deadline that founder Ritesh Agarwal must meet- unless the company lists on the stock market.
According to a Bloomberg report, OYO’s creditors, including Mizuho Financial Group Inc., are insisting that Agarwal clear his dues if the IPO doesn’t happen on time. However, if OYO manages to go public this year, lenders might allow him to extend the repayment until 2027.
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