OYO Ramps Up IPO Plans as Founder's Debt Repayment Deadline Looms

India's Oyo Hotels is speeding up plans for an initial public offering, as an important year-end debt repayment deadline approaches.

- Bloomberg

Creditors, including Mizuho Financial Group Inc., insist that founder Ritesh Agarwal pay off the dues for $383 million he borrowed—part of a multibillion-dollar loan package—if the startup doesn't have an IPO by October, people familiar with the matter said. Lenders want clear visibility on Agarwal's liquidity and will potentially allow him to delay the repayment until 2027 only if Oyo lists this year, they said, asking not to be named as the matter is private.