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OYO Name Change: Ritesh Agarwal-led hospitality company OYO is soon getting ready for IPO. In this episode, the company has sought people's opinions to change the name of its parent company Oravel Stays. The company will also pay money in return. According to media reports, the company now wants a new name that reflects its global identity and future thinking.

The winner will get a reward of ₹ 3 lakh.

OYO founder Ritesh Agarwal has given this information by posting on Instagram. He has said that the winner of the competition will get a cash prize of Rs 3 lakh. Apart from this, the winner will also get a chance to meet Ritesh Agarwal personally.

The name should have these qualities.

It should be an impressive and strong word. It should be liked all over the world (global appeal). It should not be related to any particular language or culture. It should reflect human emotion along with technological modernity. Its .com domain should be easily available.

OYO is preparing to launch a new app.

Ritesh also clarified that this new name is not for the OYO hotel brand or any consumer product, but for the corporate company that operates OYO's entire global hospitality and urban innovation ecosystem. According to sources, OYO is also preparing to launch a new app that will target premium and mid-market hotels. In such a situation, it is also believed that the name that will be selected from this competition can also be used for this new app.