Oyo bags Rs 634 cr funding from its parent company - Oravel Stays

As per the company’s regulatory filings sourced from business intelligence platform Tofler showed, Oyo Hotels & Homes got Rs 634.49 crore in capital infusion from its parent entity Oravel Stays.

The Series G compulsorily convertible cumulative preference shares were allotted at a premium of Rs 2,140.50 per share of face value Rs 100, it said.

According to news source, a company spokesperson said, “This is a business as usual transaction, where the parent entity, Oravel Stays, is in the process of funding the operational and business requirements of OYO’s India operations, and global shared services, including servicing a large part of our global operations, through its subsidiary, OYO Hotels and Homes. The filing is regarding that.”