Oravel Stays, the parent company of hospitality chain Oyo Hotels & Homes, has received a capital infusion of about USD 807 million from two of its backers, SVF India Holdings and RA Hospitality, the Ritesh Agarwal-controlled investment entity, as part of its ongoing $1.5 billion funding round.
In regulatory filings with the Registrar of Companies, and accessed by company research platform Tofler, the Gurugram-headquartered company has allotted a total of 15,325 Series F compulsorily convertible cumulative preference shares (CCCPS) to the two entities, at a price of USD 52,643.22 per share.
Source: Economic Times
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