Oyo India CEO And Europe Head Quit Ahead Of IPO The developments come at a time when Oyo has refiled its draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (Sebi) under the recently introduced pre-filing route

Ankit Gupta, India CEO of hospitality and travel tech unicorn Oyo, has quit the company, along with the head of its Europe business, Mandar Vaidya. Both outgoing roles have been transitioned to Varun Jain, as COO India, and, Gautam Swaroop, as CEO Oyo Vacation Homes, according to a company statement.

Gupta had joined the unicorn in 2019 and was the India CEO only for about a year before quitting in March this year. Before heading India operations, Gupta was CEO of the Franchise and Frontier business at the Gurugram-based company. Similarly, Vaidya too had joined Oyo in 2019 and before he began leading Europe operations from April 2021, he was the CXO of South East Asia and Middle East.

Oyo's CTO Ankit Mathuria, had also exited the company in July this year.

In February, Oyo had reportedly rejigged its top deck and top executives were asked to take on more roles internally.

Global COO and head of technology division, Abhinav Sinha, was appointed as the chief product and technology officer. Global chief merchant officer, Anuj Tejpal, was tasked with additional responsibility of leading the India merchant team. Chief service officer, Shreerang Godbole was tasked with additional responsibility of leading the data science division. CEO – International, Gautam Swaroop, was given additional responsibility of running Weddingz, the company's wedding organising arm, as per available reports

The developments come at a time when Oyo has refiled its draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (Sebi) under the recently introduced pre-filing route.

The company, founded by Ritesh Agarwal, is reportedly looking to raise $1 billion at a valuation of $2.7 billion, sharply lower than the $10 billion that it once commanded.