🧵 1. OYO raises Rs 1,457 crore in latest funding round for growth and global expansion. New capital of nearly Rs 1,040 crore secured from investors. #business
🧵 1. OYO raises Rs 1,457 crore in latest funding round for growth and global expansion. New capital of nearly Rs 1,040 crore secured from investors. #business
🧵 2. Additional equity issuance approved by shareholders during EGM. Funds to support OYO's growth. Valuation remains consistent at $2.4 billion.
🧵 3. Funding includes Compulsory Convertible Cumulative Preference Shares priced at Rs 29 each. Contributors include InCred Wealth, J&A Partners, ASK Financial Holdings.
🧵 4. New shares issued to InCred, J&A Partners, ASK Financial Holdings, and Patient Capital Investments Pte Ltd. Total additional shares issued amount to 35,86,98,276.
🧵 5. Oravel appoints Sumer Juneja from SoftBank Investment Advisors as Non-Executive Director. Share capital increased. OYO continues expansion plans with new investment.
🧵 Read more at: https://www.financialexpress.com/business/industry/oyo-raises-rs-1457-crore-in-latest-funding-round-allocations-for-growth-and-global-expansion/3579830/