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&...

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

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