Ritesh Agarwal Calls on Creators to Reimagine OYO’s Identity
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Ritesh Agarwal Calls on Creators to Reimagine OYO’s Identity, Offers ₹3 Lakh Prize for the Best Idea

Growfast Securities and Credit Private Limited / Blog  / News  / Ritesh Agarwal Calls on Creators to Reimagine OYO’s Identity, Offers ₹3 Lakh Prize for the Best Idea
16 Jun 2025

Ritesh Agarwal Calls on Creators to Reimagine OYO’s Identity, Offers ₹3 Lakh Prize for the Best Idea

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Ritesh Agarwal Calls on creators to reimagine oyo's identity

Oravel Stays, the parent company of Ritesh Agarwal-led OYO, is inviting name suggestions to create a bold new identity as it prepares for its much-anticipated Initial Public Offering (IPO). Founder Ritesh Agarwal took to Instagram to announce the contest, with a grand prize of ₹3 lakh for the winning entry. The contest is open for a limited time, and the chosen name could play a pivotal role in the brand’s future, possibly becoming the title of OYO’s upcoming premium hotels app.

The new name is expected to be a one-word brand with global resonance—tech-forward, sharp, and human. It should not be tied to any specific culture or language and must be flexible enough to represent a company evolving beyond hospitality. Domain availability, particularly a .com address, will play a crucial role in the selection process. This rebranding effort reflects a significant shift in OYO’s identity, signaling its transformation into a broader tech-driven enterprise. In addition to a cash prize, the winner will also have the exclusive opportunity to meet Ritesh Agarwal.

OYO’s rebranding initiative aligns with its broader strategy, which reportedly includes launching a dedicated app for its fast-growing premium and mid-market hotel segment. This move is aimed at strengthening its presence both in India and international markets.

In preparation for its IPO, OYO has enlisted five major investment banks to present its growth story to SoftBank—one of its largest investors—during a critical meeting in London. The IPO is anticipated to roll out in the last quarter of this fiscal year. The company has shown strong financial performance, reporting a record profit after tax (PAT) of ₹623 crore in FY25—a 172% jump from ₹229 crore in FY24. Its adjusted EBITDA for FY25 stood at ₹1,132 crore, marking the tenth consecutive quarter of EBITDA profitability.

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