Oyo finalises Rs 1,000 crore fundraise from Indian family offices

Hospitality startup Oyo is at an advanced stage of talks to raise around Rs 1,000 crore ($120 million), primarily from the family offices of top Indian corporate executives and stock market experts, said people aware of the move.

Backers are likely to include corporate strategy advisor and former Reliance Industries senior executive Anand Jain, Mankind Pharma promoter brothers Ramesh and Rajeev Juneja, as well as Utpal Sheth, close aide of the late market maven Rakesh Jhunjhunwala, they added.