OYO Raises Additional Rs 1,457 Crore in Series G Funding
OYO, the leading budget hotel chain, has successfully secured an additional Rs 1,457 crore in its ongoing Series G funding round. This latest investment brings the total capital raised in this round to nearly Rs 2,457 crore.
The funding round was led by InCred Wealth, with participation from J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd. The investment was made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, valuing the company at $2.4 billion.
Key Highlights:
- Additional Funding: OYO secured Rs 1,457 crore in the Series G funding round, following an earlier raise of Rs 416.85 crore.
- Investor Participation: InCred Wealth, J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd contributed to the funding round.
- Valuation: The investment values OYO at $2.4 billion.
- Share Capital Increase: OYO’s authorized share capital was increased from Rs 13,41,13,59,300 to Rs 16,31,13,59,300.
- Board Appointment: Sumer Juneja, Managing Partner and Head of EMEA & India at SoftBank Investment Advisors, was appointed as a Non-Executive Director on Oravel’s Board.
Funding Utilization:
The additional funds raised will be used to support OYO‘s growth and global expansion plans. The company aims to strengthen its market position and continue its strategic initiatives.
Conclusion:
OYO’s successful completion of the Series G funding round demonstrates the strong investor confidence in the company’s future prospects. With this additional capital, OYO is well-positioned to accelerate its growth and solidify its position as a leading player in the hospitality industry.
