The Oyo IPO, tentatively pegged at between $1 billion and $1.2 billion, will consist of a fresh issue of shares.
Credit: Oyo handout photo
New Delhi: IPO-bound OYO on Friday announced five additions to its leadership team, with Sonal Sinha being appointed as Chief Operating Officer (COO) International and Rachit Srivastava as the COO of OYO Vacation Homes in Europe.
Besides, Shashank Jain will take over as Head of Technology & Online Revenue; Pankhuri Sakhuja will lead German home listings business Traum & flex-space business Innov8 and Ashish Bajpai has been promoted to Head of Revenue & Global OTA (online travel agency).
OYO Founder & Group CEO Ritesh Agarwal said, "As we pursue our growth objectives, agility and decisive action remain at the core of our strategy.
"Our leaders are continuously adapting and expanding their roles to stay ahead of evolving market dynamics and drive our business forward. I congratulate Sonal, Rachit, Shashank, Pankhuri and Ashish on their new roles. Having been with OYO for a significant period, they understand OYO and its values and have been critical to our success," said Agarwal.
OYO's Global COO and Chief Product Officer Abhinav Sinha will be moving into an advisory role from January 2025, the company said.
OYO Europe President Ayush Mathur will move on to build his own startup, it said.
"At OYO, we take great pride in having cultivated an entrepreneurial culture where several OYOpreneurs have gone on to build their own ventures," Agarwal noted.
"As Abhinav and Ayush embark on a new journey, I extend my best wishes to them and look forward to collaborating with them in their startup founder avatar and will support their new business endeavours," Agarwal said.