At first glance, things seem to be really looking up for India’s very own budget-friendly hotel chain Oyo. It’s had some pretty big wins in the last few months. 

So why then is its eventual IPO still the subject of such widespread speculation? 

The Ken's Deputy Editor Seetharaman G put it quite well in the latest edition of his newsletter on the Indian stock market, ‘Long and Short’. He said – ‘few companies are as good as Oyo Hotels at not going public’. 

Its listing has been a few years in the making. It first filed in 2021. Then again in 2023. And then it was just about to give the share sale another shot when its largest shareholder, Softbank, threw a spanner in the works.

Here's the thing — between the delayed IPO, top notch rivals, and demanding investors, things will only get harder for Oyo. 

Tune in. 

If you have any thoughts or questions about this episode, send them to us as texts or voice notes on Daybreak’s WhatsApp at +918971108379. 

Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.