Hospitality unicorn OYO to raise $50-M from InCred Wealth

OYO Hotels & Homes, which operates leased hotels, homes and living spaces, is to raise USD 50 million (about INR 415 crore) from InCred Wealth. The company will allot 14.37 crore Series G compulsorily convertible cumulative preference shares (CCCPS) to InCred Wealth and Investment Services Pvt Ltd. Post the allotment, InCred will hold around 2.11% stake in OYO (which imputes a valuation of USD 2.4 Billion).OYO has raised around USD 3 Billion in equity and debt till date and counts the likes of SoftBank, Microsoft, and Peak XV Partners among its backers.