Ritesh Agarwal launches Rs 3 lakh contest to rename OYO's parent firm

The winning entry will receive a cash prize of ₹3 lakh, Ritesh Agarwal announced via Instagram, adding that the name should reflect the company's evolution and global ambitions.

By  Storyboard18Jun 9, 2025 9:01 AM
Ritesh Agarwal launches Rs 3 lakh contest to rename OYO's parent firm
The ideal name, according to Agarwal, must be bold, one-word, global in appeal, and free from ties to any single culture or language.

As Ritesh Agarwal-led OYO gears up for its-much anticipated Initial Public Offering (IPO), the company has launched a crowdsourced search for a new name for its parent firm, Oravel Stays, according to media reports.

The winning entry will receive a cash prize of Rs 3 lakh, Agarwal announced via Instagram, adding that the name should reflect the company's evolution and global ambitions.

The ideal name, according to Agarwal, must be bold, one-word, global in appeal, and free from ties to any single culture or language. It should also convey a tech-forward, shar yet human feel - and ideally, come with an available ".com" domain. Beyond the cash reward, the winner will also have the chance to meet the OYO founder in person.

“We're renaming the corporate brand behind it all. Not the hotel chain, not a consumer product - but the parent company powering a global ecosystem of urban innovation and modern living," Agarwal stated. "We believe it's time the world had a new kind of global brand - born in India, but built for the world."

Entries for the naming contest have already begun and will close soon.

Sources quoted by PTI indicated that OYO is also considering launching a separate app for its premium and mid-market to premium company-serviced hotels, a segment that has shown strong growth in India and key global markets. They noted that the winning name from this exercise could potentially be used for this new app, as well.

OYO's rebranding efforts come amid preparations for a pivotal presentation by five investment banks to key shareholder SoftBank later this month at its London office.

The presentation will assess OYO's readiness for a public listing, which is being targeted for the last quarter of the current fiscal year, according to PTI.

The company has been showing strong financial momentum. In May, Agarwal informed employees that OYO had emerged as the most profitable Indian startup, posting a Profit After Tax (PAT) of Rs 623 crore for FY 2024-25. This represents a 172% jump from Rs 229 crore in the previous fiscal year.

The company also recorded an adjusted EBITDA of Rs 1,132 crore in FY25, marking a 27% year-on-year growth and its tenth consecutive quarter of EBITDA profitability.

First Published on Jun 9, 2025 9:01 AM

More from Storyboard18

Brand Makers

Sundar Pichai is now a billionnaire, 10 years after being Alphabet CEO

Sundar Pichai is now a billionnaire, 10 years after being Alphabet CEO

Brand Makers

Hulk Hogan, wrestling legend and WWE Hall of Famer, passes away at 71

Hulk Hogan, wrestling legend and WWE Hall of Famer, passes away at 71

Brand Makers

ASSOCHAM strengthens leadership team with appointment of Senior Vice President & Vice President

ASSOCHAM strengthens leadership team with appointment of Senior Vice President & Vice President

Brand Makers

Indian-origin Amar Subramanya leaves Google after 16 years, finds Microsoft culture 'refreshingly low ego'

Indian-origin Amar Subramanya leaves Google after 16 years, finds Microsoft culture 'refreshingly low ego'

Brand Makers

Insurance regulatory body appoints Ajay Seth as Chairman

Insurance regulatory body appoints Ajay Seth as Chairman

Brand Makers

EaseMyTrip co-founder promises 30% traffic relief in Bengaluru within a year. Here's how

EaseMyTrip co-founder promises 30% traffic relief in Bengaluru within a year. Here's how

Brand Makers

'Global icon with a Mexican heart': Praveen Someshwar, MD & CEO Diageo India on World Tequila Day

'Global icon with a Mexican heart': Praveen Someshwar, MD & CEO Diageo India on World Tequila Day

Brand Makers

Nestle India's Out-of-Home business grows at double-digit rates in Q1 FY26

Nestle India's Out-of-Home business grows at double-digit rates in Q1 FY26