OYO offers Rs 3 lakh prize for new name of parent company

Hospitality technology company OYO has initiated a process to rename its parent firm, Oravel Stays, as it prepares for a potential initial public offering (IPO) and shifts focus toward more premium offerings.

OYO founder Ritesh Agarwal has invited the public to suggest a new corporate name through social media. According to individuals familiar with the matter, the selected name may also be used for a new app the company is developing to cater to the premium hotel segment.