TechCrunch
Oyo, the once high-flying Indian budget hotel chain, has withdrawn its IPO application from the Securities and Exchange Board of India (SEBI) for the second time in a fresh blow to its already diminished ambitions. The Gurugram-headquartered startup, which at its peak commanded a valuation of $10 billion, pulled the plug on its IPO plans on May 17, according to a disclosure on the regulator's website. Oyo had initially filed paperwork with SEBI in 2021 for a public listing but withdrew it and refiled in 2023.