Another Setback for OYO’s Public Debut – Here’s What Really Happened In yet another twist in OYO’s long-running IPO saga, the Ritesh Agarwal-led hospitality startup has reportedly postponed
In yet another twist in OYO’s long-running IPO saga, the Ritesh Agarwal-led hospitality startup has reportedly postponed its third attempt to go public—and this time, it’s SoftBank that’s saying “not so fast.”
According to a new Bloomberg report, OYO has pushed its much-anticipated IPO timeline to March 2026, shelving the company’s earlier plan to list by October 2025.
And the reason? SoftBank—OYO’s biggest investor—isn’t convinced the company is financially ready to face the public markets.
SoftBank, the Japanese investment behemoth that holds a significant stake in OYO, has reportedly raised serious concerns over the startup’s earnings profile. Simply put, the numbers don’t look strong enough yet to justify a public listing.
While Ritesh Agarwal has been pushing for an earlier IPO, insiders claim that SoftBank is urging a more cautious approach, warning that jumping the gun could backfire if the company’s financial health isn’t rock solid by then.
This marks the third time OYO has delayed its IPO plans—and it’s beginning to look like a pattern.
To understand just how long this IPO dance has been going on, let’s look at the timeline:
This pattern is not only frustrating for eager investors—it’s also raising concerns about what’s happening behind the scenes.
So what’s really going on at OYO that keeps delaying its market debut?
SoftBank reportedly wants OYO to demonstrate consistent profitability and show real financial resilience. The IPO market is brutal to companies that go public with unsteady earnings—and SoftBank, which has seen its fair share of post-IPO disasters, doesn’t want another on its hands.
OYO once aimed for a $10 billion valuation, but internal discussions now place the number much lower. An underwhelming IPO debut could damage OYO’s brand—and investors’ confidence.
Even though Indian markets have been largely stable, global macroeconomic uncertainty and tech sector volatility continue to make IPO timing a tricky game.
According to sources, Ritesh Agarwal is keen to go public sooner rather than later. A successful IPO would be a major personal milestone and give OYO access to much-needed capital for growth and debt repayment.
But SoftBank isn’t budging. It has reportedly asked Agarwal to reconsider his aggressive timeline, emphasizing that a premature listing could do more harm than good.
This is a rare but significant standoff between a founder and one of the world’s most influential tech investors.
If OYO wants the green light from SoftBank—and market regulators—it has a few boxes to check:
In a nutshell, OYO needs to prove it’s not just a promising brand—but a strong business.
OYO isn’t the only Indian unicorn facing IPO delays. Several other companies in the startup ecosystem, including those in fintech, e-commerce, and edtech, have either postponed their IPOs or scaled back expectations.
The message is clear: Investors are demanding profitability and discipline. The days of sky-high IPOs with little to no earnings are over.
For now, OYO will have to spend the next 18–24 months cleaning up its books, improving its margins, and convincing everyone—from SoftBank to SEBI—that it’s finally ready.
OYO’s dream of ringing the IPO bell isn’t dead—but it’s definitely on snooze. Again.
With SoftBank stepping in to delay the third public listing attempt, it’s a sign that not even billion-dollar backing can override business fundamentals. Earnings matter. Timing matters. And in today’s IPO market, caution wins over hype.
March 2026 may seem far off, but if OYO uses that time wisely, it might finally make its public debut count.
Until then, all eyes remain on Ritesh Agarwal and what he does next.
