PE Fund Investments
Hotel rooms aggregator OYO sees secondary investments from Qatar Insurance, HNIs
Several investors, including Middle East-based composite insurer Qatar Insurance Company (QIC) and a few high net worth individuals, have purchased stakes in Gurugram-based OYO. These secondary transactions - which were executed in November and December 2021 at a price of around INR 110 apiece - included nearly 1.43 crore equity shares as well as 2,500 preference shares. The transactions valued OYO at around USD 9.56 billion, similar to the last round of funding led by Microsoft for the hotel aggregator. The shares were primarily being offloaded by OYO's Employee Welfare Trust, which holds them on the behalf of its employees,as a part of its ESOP program. OYO intends to raise INR 8,430 crore through an IPO that includes a primary issuance of INR 7,000 crore. OYO's existing investors include Softbank, Sequoia Capital, Lightspeed Ventures, Greenoaks Capital, Airbnb and Hindustan Media Ventures, while founder Ritesh Agarwal holds a 33% stake in the company.
From the Venture Intelligence PE-VC Deal Database: Between Mar-14 and Aug-21, OYO Rooms attracted nearly $1.9 B from Varde Partners, Fidelity India, Citadel Investment Group, SoftBank Corp, Avendus PE, Greenoaks Capital, Lightspeed Ventures, Sequoia Capital India, BlackSoil Capital, InnoVen Capital, DSG Consumer Partners, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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