The scheme, available for small and medium scale businesses, is being offered on the occasion of World MSME Day, the company said in a statement.
The company, which had filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale in October last year, is now prepared to settle for a lower valuation of around USD 7-8 billion against the USD 11 billion it was targeting initially, according to people in the know of the development.
Oyo incurred losses of Rs 3,943.84 crore in 2020-21 (FY21), translating to a loss of over Rs 76,077 every minute, the FHRAI said.
Commenting on India crossing the 100 unicorns mark, in a post on Twitter, Ritesh Agarwal said it is "not just a milestone but a stepping stone that lays the path for the next 1,000 unicorns.”
Direct Booker’s acquisition will help OYO to expand its existing portfolio of over 1,800 vacation homes in Croatia
Direct Booker has over 3,200 homes and serviced 20 lakh customers so far, OYO said in a statement.
Speaking at the Global Unicorn Summit Nurturing 1,000 Unicorns by 2030 — jointly organised by CII with DPIIT, he also stressed on the need to integrate the "very large rural mass" of India with the usage of technology and help generate income for the people living there.
The bookings for the weekend that coincided with Navratri and Ashtami were much higher than the weekend bookings for peak travel days such as Republic Day, Holi, and Valentine’s Day, OYO said in a statement.
The request is under process according to the posting on SEBI's website, which did not provide details on the type of exemption sought.
Starting with Poland, the company has initiated concerted efforts to appeal to its 600-plus Belvilla homeowners on its platform in Poland to open their holiday homes to refugees.
The timing is crucial as the company has been delaying its much awaited $1.2-billion initial public offer.
Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd. could clip its Indian IPO from the nearly $1 billion initially sought to half that, the people said, declining to be identified discussing internal matters.
At OYO, Prakash will lead the operations for teams working specifically for IT and cyber security services.
The High Court has rejected Zostel's plea claiming 7 percent shareholding in OYO ahead of the latter's initial public offering.
Satyadeep Mishra, who was with Reliance Jio before, will also be responsible for teams that serve international markets of OYO, including the US, UK, Latin America and others, the company said in a statement.
The company has already received in-principle approval from BSE as well as National Stock Exchange, sources said.
As per the draft red herring prospectus filed last year, the hospitality unicorn plans to raise $1.2 billion (Rs 8,430 crore) through the IPO.
The man and eight of his fellow travellers found themselves stranded on a deserted road at night.
Treebo now has around 12,000 rooms across 600 properties
ex-Apple executive Nirdosh Chouhan, who has over 18 years of industry experience, will spearhead OYO’s Core Engineering Platform that plays a critical role in the company’s business, OYO said in a statement.
Kumar will advise the ride-hailing firm on short and long-term strategies and regulatory as well as stakeholder engagement
The federation claims Oravel Stays, the parent company of Oyo, is engaged in anti-competitive business practices and hasn’t disclosed all the cases against it.