Ritesh Agarwal, the founder of OYO, has invested ₹830 crore in the company through his Singapore-based entity, Patient Capital, as part of the latest funding round. This investment is part of OYO's recent capital raise of ₹1,457 crore from a group of investors, as confirmed by insiders.
Following this Series G funding round, Agarwal's ownership in OYO will increase from 29.97% to 32.57%. Sources indicate that Agarwal's move is both a strategic effort to maintain his stake in the company and a demonstration of his confidence in OYO's future. The funds supporting this investment are said to come from Singapore-based family offices.
Oravel Stays Ltd, OYO's parent company, secured the additional ₹1,457 crore from a consortium of investors, with the fundraising initiative receiving near-unanimous approval—99.99%—from shareholders during an Extraordinary General Meeting (EGM) held on August 8.
This latest capital infusion values OYO at $2.4 billion, aligning with the valuation set during the first tranche of the Series G round issued to InCred in July. The funds are being raised through the issuance of Compulsory Convertible Cumulative Preference Shares, each priced at ₹29, consistent with the recent valuation.
The newly acquired capital will be directed towards supporting OYO's growth and fueling its global expansion strategy, according to sources familiar with the company's plans.
Ritesh Agarwal, the founder of OYO, has invested ₹830 crore in the company through his Singapore-based entity, Patient Capital, as part of the latest funding round. This investment is part of OYO's recent capital raise of ₹1,457 crore from a group of investors, as confirmed by insiders.
Following this Series G funding round, Agarwal's ownership in OYO will increase from 29.97% to 32.57%. Sources indicate that Agarwal's move is both a strategic effort to maintain his stake in the company and a demonstration of his confidence in OYO's future. The funds supporting this investment are said to come from Singapore-based family offices.
Oravel Stays Ltd, OYO's parent company, secured the additional ₹1,457 crore from a consortium of investors, with the fundraising initiative receiving near-unanimous approval—99.99%—from shareholders during an Extraordinary General Meeting (EGM) held on August 8.
This latest capital infusion values OYO at $2.4 billion, aligning with the valuation set during the first tranche of the Series G round issued to InCred in July. The funds are being raised through the issuance of Compulsory Convertible Cumulative Preference Shares, each priced at ₹29, consistent with the recent valuation.
The newly acquired capital will be directed towards supporting OYO's growth and fueling its global expansion strategy, according to sources familiar with the company's plans.
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