OYO founder Ritesh Agarwal seeks public help for THIS small task, offers Rs 3 lakh prize

Ritesh Agarwal, the founder of OYO, has announced that the parent company Oravel Stays is preparing for a major rebranding. He shared on Instagram that the company is inviting people from across the world to suggest a new name for the corporate brand, with the winning entry set to receive a prize of Rs 3 lakh. The entries will only be accepted for a limited time.

This rebranding move comes as OYO gears up for its Initial Public Offering (IPO). The company, which has grown into a leading global travel technology platform, wants its parent firm to reflect a broader and more ambitious identity.

A Global Name, Born in India
According to Ritesh, the new name must be bold, global, and one-word, with no specific cultural or language attachment. It should feel modern, tech-forward, but also human and memorable. The idea is to pick a name that reflects not only OYO’s current journey in the hospitality industry but also its future growth in other areas. Ideally, the chosen name should have an available .com domain as well.

Ritesh added that this is not about renaming the OYO hotel chain or its consumer-facing products, but about giving a new identity to the corporate umbrella company that powers various ventures across the world. The rebranding is expected to represent a fresh chapter for the firm, which started in India and is now making an impact globally. The winner will also get an opportunity to meet Ritesh Agarwal in person.

Potential Use for Premium App
Sources have told PTI that the name selected through this public exercise might also be used for OYO’s upcoming app dedicated to premium and mid-market hotels. This segment has seen strong growth both in India and abroad.

Preparing for IPO and Strong Financial Growth
OYO is currently working with five investment banks to prepare a detailed presentation for its key investor, SoftBank, in London this June. The company is looking to go public in the last quarter of this financial year.

In May, Ritesh shared with employees that OYO had become the most profitable Indian startup. The company posted a profit after tax (PAT) of Rs 623 crore for FY 2024–25, a 172% jump from the previous year’s Rs 229 crore. Its adjusted EBITDA reached Rs 1,132 crore, up 27% from FY24, marking ten straight quarters of EBITDA profitability.