Oyo aims to raise Rs 1,000 crore at $2.5 billion valuation
The proposed round is expected to value OYO at around $2.5 billion, which is still a far call from its 2021 valuation of $9 billion.
Hospitality startup OYO is reportedly in an advanced stage to raise around Rs 1,000 crore ($120 million) from the family offices of top corporate honchos and market experts. This comes after OYO parent Oravel Stays withdrew its DHRP and is set to refile it with markets regulator SEBI as it plans to raise $450 million via sale of dollar bonds.
The Ritesh Agarwal-helmed company is in the final negotiations with Malaysian sovereign wealth fund Khazanah Nasional, and is negotiating certain rights before finalising the deal.
The report, quoting sources, said that Agarwal may raise up to Rs 250-300 crore from Khazanah and the rest from domestic investors. Moreover, Incred Wealth is reportedly helping OYO pitch the fundraise to a group of high net-worth individuals through a special purpose vehicle.
