OYO Raised 1457 crore rupees: Online hotel booking platform OYO’s parent company Oravel Stage Limited has raised Rs 1,457 crore from investors in the fresh stage of funding. Unicorn company OYO is preparing to bring its IPO. The company has raised about Rs 1,040 crore from investors in the fresh ‘Series G’ stage of raising funds. Earlier, the company had raised Rs 416.85 crore in the same series, after which this stage has been completed.
99.99 percent of shareholders approved the issue of additional equity
According to information received from different documents, 99.99 percent of the shareholders approved the issuance of additional equity in the company’s extraordinary general meeting (EGM) held on 8 August 2024. Sources said that the company will use this money for the growth of Oyo and its global expansion plans.
After the additional fund, the company’s valuation reached $2.4 billion
A source said that by raising additional funds, the company’s valuation has reached $2.4 billion. Let us tell you that when the value of a startup company crosses one billion dollars, it is called a unicorn. Therefore, Oyo is also called a unicorn company on the basis of its tremendous valuation.
Over 1,74,000 hotels and homes in over 35 countries
According to the information received from Oyo’s website, the company has more than 1,74,000 hotels and homes available in more than 35 countries around the world including India, Indonesia, Malaysia, Denmark, America, United Kingdom, Netherlands, Japan, Mexico, Brazil. With this, Oyo has become the world’s leading hotel and home chain. Many big companies of the world have invested a lot of money in the company. The net worth of Oyo’s founder and CEO Ritesh Agarwal is around Rs 16,000 crore.
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