OYO Secures ₹1,457 Crore Funding for Global Expansion

Oravel Stays Ltd, the parent company of OYO, has successfully raised ₹1,457 crore in its latest Series G funding round. This amount will be utilized to boost the company's growth and global expansion. Key investors include InCred Wealth, J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd.

Oravel Stays Ltd, the parent company of OYO, has secured ₹1,457 crore from a consortium of investors in its most recent funding round, according to sources.

This marks the conclusion of OYO's Series G funding round. The IPO-bound unicorn had previously raised nearly ₹1,040 crore and ₹416.85 crore in the same series. Documents accessed by PTI reveal that the additional equity issuance was approved by 99.99% of shareholders during an Extraordinary General Meeting (EGM) held on August 8.

The raised capital will assist OYO in its growth and global expansion, sources confirmed. The additional funding maintains the company's valuation at $2.4 billion, as observed in the first tranche of Series G issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at ₹29, consistent with the recent Series G valuation.

The funding round includes contributions from key investors such as InCred Wealth, J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd. The shareholders also approved increasing the company's authorised share capital from ₹1,341 crore to ₹1,631 crore. Additionally, Sumer Juneja, Managing Partner and Head of EMEA & India at SoftBank Investment Advisors, was appointed as a Non-Executive Director on Oravel's Board, receiving 99.99% approval in the EGM. Sumer will represent Softbank Vision Fund.

(With inputs from agencies.)