Ritesh Agarwal Bolsters OYO with $830 Crore Investment from Singapore Entity

Ritesh Agarwal has invested Rs 830 crore via his Singapore-based entity, Patient Capital, in OYO, raising the company's valuation to USD 2.4 billion. Post-investment, Agarwal's stake in the company grows to 32.57%. The funding aims to support global expansion and growth for the travel tech platform.

Founder Ritesh Agarwal has committed Rs 830 crore through his Singapore-based entity, Patient Capital, during OYO's latest funding round, according to sources.

Following the Series G equity dilution, Agarwal's ownership stake will rise from 29.97 per cent to 32.57 per cent, sources revealed.

Agarwal's substantial investment serves to protect his ownership share while signaling confidence in OYO's future prospects. This infusion of capital, supported by Singapore-based family offices, is the latest in OYO's Series G fundraising round, which totaled Rs 1,457 crore from a group of investors.

The additional equity issuance received overwhelming approval from shareholders, with 99.99 per cent voting in favor during an Extraordinary General Meeting (EGM) held on August 8.

The fresh funds value the company at USD 2.4 billion, consistent with the valuation established in the first Series G tranche issued to InCred in July.

Capital raised through the issuance of Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, will be used to fuel OYO's growth and its global expansion initiatives.