11 August 2024
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.
The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round.
According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8.
The capital will be used to support OYO's growth and its global expansion plans, sources said.
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.
The IPO-bound unicorn has raised nearly Rs 1,040 crore in the Series G funding round. This follows an earlier raise of Rs 416.85 crore in the same series and concludes the round.
According to different documents accessed by PTI, the additional equity issuance was approved by 99.99 per cent shareholders in an EGM held on August 8.
The capital will be used to support OYO's growth and its global expansion plans, sources said.
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