OYO (Oravel Stays Limited) Unlisted Shares

Key Takeaways

• OYO (Oravel Stays Limited) received SEBI clearance for its IPO in June 2026 — the culmination of one of the longest IPO journeys in Indian startup history, begun with the first DRHP in September 2021.
• FY25 marked OYO's first full financial year of positive EBITDA (~₹801–1,100 crore) on consolidated revenue of approximately ₹5,604–6,326 crore.
• The cleared IPO is sized around ₹5,957 crore at a valuation of approximately $3–4 billion — a sharp reset from the $9 billion sought in 2021.
• Face Value: ₹1 | Lot sizes typically 500–1,000 shares | Traded on NSDL & CDSL.
• Arms Securities provides live buy/sell prices for OYO unlisted shares with 24–48 hour demat settlement.

OYO unlisted shares represent one of the most talked-about pre-IPO opportunities in India — a global hospitality-tech platform that has completed a genuine operational turnaround and now holds SEBI clearance to list. Founded by Ritesh Agarwal in 2012 and backed by SoftBank, Oravel Stays operates over 1.4 lakh hotel and home storefronts across 35+ countries, serving 100+ million customers.

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Company Overview: About Oravel Stays (OYO)

The OYO Story — Collapse, Restructure, Comeback

Few Indian companies have lived a more dramatic arc:

• 2012–2019: Hypergrowth — OYO becomes one of the world's largest hotel chains by room count, expanding across Asia, Europe, and the US, fuelled by SoftBank capital
• 2020–2022: COVID devastates hospitality; EBITDA losses reach ₹2,500–3,000 crore; layoffs, market exits, and contract restructuring follow
• Sept 2021: First DRHP filed — seeking ₹8,430 crore at a $9 billion valuation
• 2023: SEBI returns the papers; OYO refiles a 40–60% smaller offer, then withdraws again
• FY24: First annual net profit (~₹229.5 crore); EBITDA reaches ₹860–1,132 crore
• FY25: Revenue grows ~13–14% to ₹5,604–6,326 crore; first full year of strong positive EBITDA; balance sheet refinanced via a $830 million Term Loan B maturing 2029
• June 2026: SEBI clears the IPO at a ~$3–4 billion valuation — 10 consecutive EBITDA-positive quarters behind it

The turnaround formula: exit unprofitable geographies, cut fixed costs, focus on the technology-platform model (40+ full-stack products for hotel partners), and grow premium segments.

OYO Financial Performance

Figures vary between standalone/consolidated and restated disclosures across sources; the DRHP will be the definitive reference.

What the numbers say:

1. The EBITDA turnaround is real and sustained — 10 consecutive positive quarters is the metric that convinced SEBI-stage investors.
2. Net profit remains fragile. Historical debt servicing keeps PAT thin; part of the recent profit is accounting-led (deferred tax). Durable cash profitability still has to be proven.
3. The valuation reset matters for buyers. At $3–4 billion versus 2021's $9 billion ask, today's entry is anchored to actual EBITDA rather than growth dreams — a healthier setup for listing-day performance.

Why Invest in OYO Unlisted Shares?

1. SEBI-cleared IPO — the catalyst is confirmed. Unlike most unlisted shares where an IPO is speculative, OYO's regulatory clearance (June 2026) puts a defined liquidity event on the calendar.
2. Genuine operational turnaround — from ₹3,000 crore EBITDA losses to ₹1,000+ crore positive EBITDA in three years.
3. Asset-light platform economics — OYO doesn't own hotels; it monetises technology, distribution, and brand across 1.4 lakh storefronts.
4. Global scale, Indian listing — few Indian IPOs offer a genuinely international consumer-tech footprint.
5. Accessible ticket size — with a low per-share price, OYO is among the most affordable large-name unlisted shares.

Risks to Consider

1. PAT-level losses persist — debt costs remain heavy despite refinancing; the equity story rests on EBITDA continuing to scale faster than interest.
2. IPO pricing risk — the final IPO price band may come at a discount or premium to prevailing OTC prices; grey-market entry prices offer no guarantee against listing below them.
3. Litigation overhang — unresolved disputes (including with hotel partners) pose financial and reputational risks flagged by analysts.
4. Competitive intensity — MakeMyTrip, Agoda, direct bookings, and regional players compete hard on take rates.
5. 6-month lock-in applies to pre-IPO shareholders after listing under SEBI rules.
6. Wide 52-week price band — the OTC price has swung significantly; position sizing and entry discipline matter.

How to Buy OYO Unlisted Shares from Arms Securities

1. Get the live price — Call/WhatsApp +91-8882245112
2. Confirm quantity — lots typically of 500–1,000 shares
3. Share your CMR (Client Master Report) from your NSDL/CDSL DP
4. Transfer payment — NEFT/RTGS/IMPS
5. Receive shares in your demat within 24–48 hours

Arms Securities — India's trusted unlisted share specialist since 1990.

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FAQs — OYO Unlisted Shares

What is the current price of OYO unlisted shares?

OYO unlisted share prices change daily with OTC demand and have traded in a wide 52-week range. For today's confirmed Arms Securities quote and available quantity, call/WhatsApp +91-8882245112 or email contact@armssecurities.com.

When will the OYO IPO happen?

Oravel Stays received SEBI's observations letter (clearance) on 5 June 2026, with an issue size of approximately ₹5,957 crore. The company can now launch within SEBI's validity window, subject to market conditions. This follows the original September 2021 DRHP and multiple refilings.

Is OYO profitable?

OYO achieved its first annual net profit in FY24 (~₹229.5 crore) and has recorded 10 consecutive EBITDA-positive quarters, with FY25 EBITDA around ₹801–1,100 crore. However, net profitability remains thin due to debt-servicing costs, and part of reported profit has been accounting-led. The EBITDA trajectory is the key metric to watch.

What valuation is OYO seeking in the IPO?

The cleared IPO is anchored around a $3–4 billion valuation — a substantial reset from the $9 billion sought in 2021. SoftBank (holding ~46%) had itself marked down OYO's valuation in 2022, and the current pricing reflects operationally supported multiples.

What happens to my OYO unlisted shares after the IPO?

They convert to listed shares in your demat account. SEBI's 6-month lock-in for pre-IPO shareholders applies from the allotment date, after which you can sell freely on NSE/BSE.

What is the minimum investment for OYO unlisted shares?

With lots of 500–1,000 shares at a low per-share price, minimum investment typically starts from ₹12,000–₹30,000 — among the most accessible big-brand unlisted shares. Confirm the current lot with Arms Securities at +91-8882245112.

Also Read: Pre-IPO Shares Guide | DRHP Filed Companies 2026 | Tax on Unlisted Shares

Disclaimer: Informational purposes only; not investment advice. Figures vary across restated disclosures — the DRHP/RHP is the definitive source. Consult a SEBI-registered advisor.

+91-8882245112 | contact@armssecurities.com | www.armssecurities.com