Private Equity

PE Fund Investments

Oyo Rooms raises $150-M more to close Series G round with $175-M

PTI  

Oravel Stays Ltd, the parent company of hospitality unicorn OYO Rooms, has raised INR 1,040 crore (or about USD 125 million) more in its Series G funding round taking the total round size to INR 1,457 crore.InCred Wealth led the recent fundraise as well as J&A Partners (the family office of Mankind Pharma promoters) and ASK Financial Holdings. The additional fund raise, via Compulsory Convertible Cumulative Preference Shares (CCPS) priced at INR 29 each, values the company at USD 2.4 billion. This is the same valuation as the first Series G tranche issued to InCred in July 2024 to raise INR 416.85 crore (about USD 50 million).As part of the latest tranche, InCred will be issued 2,62,84,483 shares (translation to an additional investment of INR 76.23 crore), J&A Partners 4,13,79,310 shares (about INR 120 crore), ASK Financial 48,27,586 shares (about INR 14 crore) and Patient Capital Investments Pte Ltd 28,62,06,897 shares (about INR 830 crore).