The largest Indian hospitality company, OYO Hotels Homes is planning to raise INR 6,945 Crore in a fresh funding round. The hospitality firm wants new investors, as well as existing investors, to make investments in $10 billion-valued company, three people who were aware of developments told The Times of India.
The hospitality company is looking at a new lead investor and there is high interest from both financial as well as strategic investors, said one of the people, according to the same media report.
The multinational conglomerate company, Softbank Group has more than 46 per cent shareholding in OYO Hotels Homes after investing almost $1 billion. With this, the company has become sixth-largest hospitality chain to have rapidly spread in Europe and China.
Following Softbank, early-stage investors, Lightspeed Ventures and Sequoia Capital have 10.88 per cent and 10.24 per cent stakes separately in the hospitality company, leaving 9.43 per cent stake for Ritesh Agarwal, CEO of OYO Rooms.
After hearsay that the company is looking for funding, the company began receiving a large amount of money for various investors.
It lately proclaimed that it has received money as a part of strategic investment from US-based hospitality firm, Airbnb in April 2019. Prior to that, the company has raised $1 billion from other investors namely Softbank, Grab and Didi Chuxing.