Nuvama Wealth and Investment Limited Acquires INR 100 Cr Shares in OYO’s Oravel Stays

Nuvama Wealth and Investment Limited Acquires Shares

Nuvama Wealth and Investment Limited, representing a group of family offices, has bought shares worth INR 100 Cr in OYO’s parent company, Oravel Stays Limited, through a secondary market transaction. The shares were purchased at INR 53 each, valuing the company at $4.6 Bn.

Early Investors Sell Shares

The shares were sold by OYO’s early investors, InCred Wealth and Huazhu Group Limited (formerly China Lodging).

OYO Eyes Fresh Funding Round

OYO is looking to raise funds in a new round at a valuation of around $5 Bn. The company’s recent profitability has attracted a lot of interest in the market.

Company Background

Founded in 2012 by Ritesh Agarwal, OYO is a hospitality startup that offers over 40 products and solutions to patrons in more than 35 countries. Earlier this year, Ritesh Agarwal increased his stake in the company with an investment of INR 550 Cr.

Financial Performance

Company turned profitable in the financial year 2023-24 by controlling expenses, particularly employee costs. The company reported a net profit of INR 229.5 Cr, a significant improvement from the previous year’s net loss of INR 1,286.5 Cr. However, its operating revenue remained almost the same at INR 5,388.7 Cr in FY24, a slight decline from the previous fiscal year.

Meet the Super Fund Manager Dominating 2024s Financial Market

Stay tuned for more updates and insights on the stock market! For more insights on investing in the Indian stock market, check out resources like Moneycontrol and NSE India.