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  3. Oyo founder Ritesh Agarwal invests Rs 830 crore in latest funding round

Oyo founder Ritesh Agarwal invests Rs 830 crore in latest funding round

13 Aug 2024

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Key Takeaways

OYO's valuation Stands at $2.4 billion, with Ritesh Agarwal increasing it’s stake.

OYO's valuation Stands at $2.4 billion, with Ritesh Agarwal increasing it’s stake.

oyo unlisted shares

Oravel Stays (OYO Rooms)

DRHP filed4.44%

Expert Analysis

OYO Raises Rs 1,457 Crore in Funding Round, Founder Ritesh Agarwal Invests Rs 830 Crore.

Expert Analysis:

  • Founder Investment: Ritesh Agarwal invested Rs 830 crore in the company’s latest funding round through the Singapore-based entity Patient Capital.

  • Funding Breakdown: Includes Rs 416.85 crore from Incred Wealth in July 2024 and Rs 1,047 crore approved by shareholders on August 8 in an extraordinary general meeting (EGM).

  • Leading Investors: InCred Wealth invested Rs 76 crore in addition to Rs 416.85 crore previously, while J&A Partners, the Mankind Pharma family office, invested Rs 120 crore, and ASK contributed Rs 14 crore.

  • IPO Plans: The Sources confirmed that it will proceed with the IPO only after achieving several profitable quarters, which it anticipates will occur.

  • Founder’s Ownership: Ritesh Agarwal's stake will increase from 29.97% to 32.57% following the Series G funding round dilution.

Publisher:The New Indian Express