Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Oravel Stays, OYO's parent company, raised INR 1,457 crore in its Series G funding round, securing INR 1,040 crore in new capital. The round included major investors such as InCred Wealth, J&A Partners, ASK Financial Holdings, and Patient Capital Investments. The funds will support OYO's growth and global expansion, with the company's valuation remaining at USD 2.4 billion. Additionally, shareholders approved increasing authorised share capital and appointed Sumer Juneja of SoftBank Investment Advisors as a Non-Executive Director. The successful funding highlights investor confidence in OYO's business model and future potential.
Oravel Stays, the parent company of OYO, has successfully raised INR 1,457 crore in its latest funding round, according to a report by PTI, which cited insider sources. This funding round is part of OYOs ongoing Series G and has seen the company secure approximately INR 1,040 crore in new capital. This recent capital injection follows an earlier raise of INR 416.85 crore within the same series, thereby concluding this phase of funding. The issuance of additional equity was overwhelmingly approved by 99.99% of shareholders during an extraordinary general meeting (EGM) held on 8 August 2024. Advertisement
The fresh funds raised are earmarked to fuel OYO's growth ambitions and its ongoing global expansion efforts. Notably, the company's valuation remains steady at USD 2.4 billion, which aligns with the valuation from the initial tranche of Series G shares issued to InCred in July 2024.
In this latest round, the investment includes the issuance of Compulsory Convertible Cumulative Preference Shares, priced at INR 29 per share. The contributors to this funding round include InCred Wealth, which led the raise, alongside J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd.
As part of the allocation, InCred Wealth will receive 2,62,84,483 shares, J&A Partners is set to obtain 4,13,79,310 shares, ASK Financial Holdings will acquire up to 48,27,586 shares, and Patient Capital Investments Pte Ltd will be allocated 28,62,06,897 shares. The total number of additional shares issued in this round amounts to 35,86,98,276 shares.
During the EGM, the shareholders also approved an increase in the company's authorised share capital, raising it from INR 13,41,13,59,300 to INR 16,31,13,59,300. This increase in authorised capital is expected to provide the company with greater financial flexibility as it continues to pursue its strategic goals.
Additionally, the company's board welcomed a new appointment, with Sumer Juneja, Managing Partner and Head of EMEA & India at SoftBank Investment Advisors, joining as a Non-Executive Director. Sumer Juneja's appointment comes as a nominee of the SoftBank Vision Fund, further strengthening the board's expertise as OYO continues its trajectory of growth and expansion.
The recent funding and board appointment reflect OYO's sustained focus on consolidating its market position and expanding its operations on a global scale. The capital raised will be crucial in supporting the company's strategic initiatives, including technology enhancements, market penetration, and the expansion of its services in existing and new territories.
OYO's consistent valuation of USD 2.4 billion amidst the completion of its Series G funding round underscores investor confidence in the company's business model and its potential for future growth. The strategic involvement of notable investors like InCred Wealth, J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd signals strong backing for OYO's global aspirations.
In conclusion, OYO's latest funding round marks a significant milestone in its growth journey, providing the necessary financial resources to pursue its expansive goals while enhancing its governance structure through strategic board appointments. The company's ability to attract substantial investment at a consistent valuation highlights its robust market position and the continued belief in its potential to scale and innovate in the competitive hospitality sector.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
