Oyo rejigs management ahead of IPO
时间:2024-06-02 02:41:57 阅读(143)
Hotel and hospitality chain Oyo has undergone a management rejig as it prepares to re-file its draft red herring prospectus (DRHP) with the capital markets regulator for its IPO, people aware of the developments told FE.
Most of those who have been with the company for over six years, like Abhinav Sinha, who is currently the global COO and has also led the product division, will now be handed over the role of chief product and technology officer, as the two units merge. He will replace current CTO Ankit Mathuria, who is set to depart the startup in June.
Shreerang Godbole, who joined Oyo in 2014 and was recently elevated to the role of chief service officer, has been given additional charge of the data science division.
Also read: Exports to show tepid growth, says ministry
Gautam Swaroop, who is currently CEO-International, will also take over Weddingz, Oyo’s wedding organising arm, one person cited above said.
Oyo did not respond to FE’s queries till time of going to press on Friday.
The startup expects its adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) for the second half of the current fiscal to be at Rs 182 crore. Since the company had reported an adjusted Ebitda of Rs 63 crore during the first half, FY23 would be the first year since its inception in 2013 when it would report profitability on the basis of adjusted Ebitda. For the full year, Oyo’s adjusted Ebitda is expected to be Rs 245 crore. The company announced the same at a town hall meeting of employees recently.
Also read: CBDT tightens audit reporting norms for charitable trusts
Oyo’s revenues during FY23 are expected to grow by 19% to Rs 5,708 crore on the back of cost cuts, improvement in operational efficiencies and expansion of its hotels business, among others. The travel-tech startup was supposed to file its DRHP with the Securities and Exchange Board of India by mid-February but is yet to update on the progress.
上一篇:boAt raises Rs 500 crore from Warburg Pincus affiliate, defers IPO plan
下一篇:‘Absolutely wrong’- Supreme Court condemns Calcutta HC’s advice to girls to ‘control sexual urges’
猜你喜欢
- Wipro, IndiGo, Reliance, DreamFolks Services, Adani Power, Paras Defence stocks in focus on 7 September 2022
- Ayodhya Railway Junction adopts ‘Treta Yug’ aura ahead of PM Modi’s visit! Lord Ram’s murals, Nagara architecture, and more set to mesmerise pilgrims
- Buy Dixon, Wipro shares for gains; Bank Nifty may head to 38000 soon
- Will Nifty reclaim 19500 or fall further in trade - See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- Bank Nifty aims for 42700 after witnessing an extension in downtrend; BSE Sensex likely to fall
- Xiaomi 14 series, iQOO 12 and more- All smartphones confirmed to rock Qualcomm Snapdragon 8 Gen 3 so far
- Will the momentum take Nifty to a new high above 21,200- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- ‘Buy’ on IndusInd with price target of Rs 1,250
- Bulls may pull Nifty towards 18000 once 17450 hurdle crossed; 5 things to know before market opening bell