Oyo CEO Signals IPO Plans Under Review: “Actively Evaluating”
Photo Credit: Skift CEO Rafat Ali in conversation with Group CEO and Founder of Prism, Ritesh Agarwal at the Skift Global Forum in New York on September 17. Skift
Skift Take
An Oyo IPO has been rumored for years, but CEO Ritesh Agarwal's shifting tone signals momentum. A listing in India would spotlight how the world’s fastest-growing travel market is also producing global hospitality players with scale and ambition to match.
The big question around Oyo has always been when it will go public. Its parent company, now called Prism, filed initial papers in 2021, aiming to raise more than $1 billion, but the effort ultimately failed. A revised plan in 2023 was also stalled. Recent reports have pointed to a possible filing in November.
Speaking at the Skift Global Forum on Wednesday, Prism CEO and Co-Founder Ritesh Agarwal said interest in the company’s public offering has picked up. “I’d say now it is increasingly becoming something that we will consider,” he said.
Agarwal would not commit to a timeline. “What I can share is the board is actively evaluating an Indian IPO,” he added.
Strong Earnings MomentumAgarwal said the company is performing well financially. Prism (Oyo’s recently rebranded holding company) last reported first-quarter results showing earnings before interest,
