Oyo’s India CEO Ankit Gupta and Europe Head Resign Prior to Scheduled IPO

Ankit Gupta, the India CEO of Oyo, has left the company ahead of its planned public listing, along with Mandar Vaidya, who led Oyo’s operations in Europe. Gupta had been with Oyo since 2019, serving as India CEO for about a year before stepping down in March of this year. Before his role in India, Gupta was the CEO of Oyo’s franchise and Frontier businesses. Similarly, Vaidya, who joined Oyo in 2019, took on the role of leading operations in Europe in April 2021 after serving as the CXO for Southeast Asia and the Middle East.

According to a statement from Oyo, both Gupta and Vaidya actually left their roles six months ago, in March 2023, and their responsibilities had been handed over to Varun Jain as COO for India and Gautam Swaroop as CEO of OYO Vacation Homes. This development came to light as Oyo has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) as part of its plans to go public.