OYO raises Rs 1,457 crore from investors in series G funding round

Quick Summary:

The additional fund raise values the company at the same valuation of USD 2.4 billion, as the first Series G tranche issued to InCred in July, a source said.

The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G.

Oravel Stays Ltd, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round, sources said.

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Category: BusinessFinance

Markets: India

Topics: Funding round Fundraising Investors Oyo investors Oyo Oyo fund raising

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-11 @ 12:59:12 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 498 words

Reading Time: 3 minutes read

Sentences: 21 lines

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Copyright Owner: © Business Standard

News ID: 22012356

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