OyO ipo worth it?

In last 6-8 months there has been lot of layoffs and many startup getting scrutinised due to funding etc.. But I can’t see Oyo name anywhere… Not much layoffs or nothing on their crunch. Are they doing good or successful?

- Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round. - The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners. - Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion. - SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed. - The new funding comes after Oyo withdrew its IPO application for the second time earlier this year. - India’s market regulator, SEBI, has never approved the startup’s application for an IPO. Source: [Techcrunch](https://techcrunch.com/2024/08/11/oyo-valuation-crashes-over-75-in-new-funding/)

I guess the had the same tech valuations problem that WeWork and any non-tech businesses have had in the last couple of years.

Or is he just managing his image prior to Oyo IPO?

from Malaysian sovereign wealth fund Khazanah. Does this indicate further delays to IPO? Source: https://www.bloomberg.com/news/articles/2024-01-25/khazanah-in-talks-to-lead-oyo-hotel-s-400-million-fund-raise

Soneone explain rationale here !