DBT Bureau
Bengaluru, 15 December 2024
Nuvama Wealth and Investment Limited has acquired shares worth Rs 100 crore in traveltech platform, OYO’s parent firm- Oravel Stays Ltd at Rs 53 per share, reports said. The purchase of shares was done on behalf of its investors, a clutch of family offices, through a secondary market transaction, added reports.
After the sale of shares at Rs 53 apiece, Oyo’s valuation has reached $4.6 billion.
Oyo has been planning to launch its IPO (Initial Public Offering) in March 2025 as per reports, while the exact timing of the offer has not been made public.
OYO achieved a net profit of around Rs 132 crore in Q1 FY 2025 as compared to a loss of about Rs 108 crore reported in the same quarter of the previous fiscal year.
OYO recently announced plans to acquire G6 Hospitality, the operator of legacy brands Motel 6 and Studio 6 in the US, for $525 million in an all-cash transaction. The company also acquired Paris-based CheckMyGuest for $27 million.
