Ritesh Agarwal

OYO’s long-awaited IPO journey has taken a major step forward! SEBI has approved the proposed ₹6,650 crore initial public offering of PRISM, the hospitality technology company that operates OYO. Led by founder Ritesh Agarwal, the company is reportedly targeting a valuation of $7–8 billion as it prepares for one of India’s biggest new-age tech listings. With a stronger focus on profitability, premium hotels, vacation rentals, and international expansion, OYO is aiming to make a strong debut in the public markets. Will this become one of the biggest IPO stories of the year? Watch the full video for all the details.

Mint is all set to launch a brand new off-beat show this month. Rollin’ With The Boss is a series of quirky, candid, authentic, and fun conversations with young CEOs and founders recorded in the backseat of a car, which doubles up as a quiet stage for the interview while zipping through city traffic. In the first episode, Abhishek Singh, Deputy Editor, Mint speaks to the Founder and Group CEO of Oyorooms, Ritesh Agarwal about his journey from a small town in Odisha to becoming the youngest billionaire on Shark Tank, OYO’s IPO plans and a lot more. Stay tuned. Coming soon.

The video throws light on the business model of Oyo and how it is reaching new heights of success

Oyo Rooms CEO Ritesh Agarwal had started Oyo even before he turned 20Recently, Oyo Hotels and Homes Ltd raised debt funding worth $660 million from global institutional investors,

CEO Ritesh Agarwal said the company’s focus is on getting revenue per available room to 60% to 80% of pre-pandemic levels across all market

Oyo cuts its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, says Ryota TanozakiIt is also looking to downsize its Tokyo headquarters, which occupy two floors in an office building

Masayoshi Son boasted that Agarwal’s Oyo Hotels & Homes was poised to overtake the biggest hotel chains in the world just a few years after its foundingToday, Oyo is freezing operations around the world and furloughing thousands of employees as it struggles to survive the coronavirus pandemic

Oyo is cutting the most jobs in China, while also firing staff in India, Japan and the US following heavy lossesThe job cuts, the heaviest by an Indian unicorn in recent years, are the latest sign of trouble at Oyo

Oyo’s decision to layoff people can be a tacit admission of the sharp course correction neededOyo is firing more than 2,000 people in India and China, among other markets

Group CEO Ritesh Agarwal said that asking some of the colleagues to move to a new career outside of Oyo has not been an 'easy decision'Oyo is doing everything it can to ensure that the outgoing colleagues receive as much assistance and support as possible through this transition, Agarwal said