NEW DELHI: After withdrawing its initial public offering (IPO) paper for the second time, Oyo is looking to raise fresh funding from private investors.
According to sources, founder Ritesh Agarwal told employees in a townhall on Wednesday that private investors have approached them and they may raise equity at a valuation of up to $4 billion. Some reports, however, claimed that the fresh funding may be raised at a valuation of $2-2.3 billion.
The hospitality firm, which has raised more than $3 billion in equity and debt to date, was once valued at $10 billion.
“OYO has also been approached by friendly investors and may do a small equity round at a $3-4 billion valuation, or at Rs 38-45 per share to further reduce its debt,” said Agarwal.