OYO Raised 1457 crore rupees : Oravel Stage Limited, the parent company of online hotel booking platform OYO, has raised Rs 1,457 crore from investors in the fresh stage of funding. Unicorn company OYO is preparing to launch its IPO.

99.99 percent of shareholders approved

According to information received from different documents, 99.99 percent of the shareholders approved the issuance of additional equity in the extraordinary general meeting of the company held on 8 August 2024. Sources said that the company will use this money for the growth of Oyo and its global expansion plans.

After the additional fund, the company's valuation reached $2.4 billion

A source said that by raising additional funds, the company's valuation has reached $2.4 billion. Let us tell you that when the value of a startup company crosses one billion dollars, it is called a unicorn. Therefore, Oyo is also called a unicorn company based on its tremendous valuation.

Hotels and Homes in over 35 countries

According to Oyo's website, the company has more than 1,74,000 hotels and homes available in more than 35 countries around the world including India, Indonesia, Malaysia, Denmark, America, United Kingdom, Netherlands, Japan, Mexico, and Brazil. With this, Oyo has become the world's leading hotel and home chain. Many big companies of the world have invested a lot of money in the company. The net worth of Oyo's founder and CEO Ritesh Agarwal is around Rs 16,000 crore.