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Khazanah in talks to lead Oyo Hotel’s $400 million fund raise

Economic Times

Economic Times · 1y ago

Khazanah in talks to lead Oyo Hotel’s $400 million fund raise

Khazanah, the sovereign wealth fund of Malaysia, is reportedly in talks to lead a $400 million fundraise for OYO Hotels. The funding round, if successful, could help OYO further expand its presence in international markets. This move comes as OYO has been facing challenges due to the COVID-19 pandemic, with a decline in hotel occupancy and revenue.

Related News

Oyo Hotels Seeks $450 Mn Bond Sale For Refinancing

Inc42 · 1y ago

Oyo Hotels Seeks $450 Mn Bond Sale For Refinancing

Indian hospitality startup Oyo Hotels is reportedly planning to secure up to $450 million through dollar bonds to replace its existing high-cost loan and address delays in its stock-market debut. The company's parent company, Oravel Stays Ltd., is in talks with banks to raise funds for repayment. Oyo raised $660 million in term loan funding earlier this year and hopes to finalize the refinancing process by the third quarter of 2022. The move comes as Oyo aims to improve its financial health and reports a decrease in net loss despite business growth.

OYO Eyes $200 Mn Funding To Power Its US Expansion Strategy

Inc42 · 1y ago

OYO Eyes $200 Mn Funding To Power Its US Expansion Strategy

OYO's parent company, Oravel Stays, is in talks to raise funds from foreign institutional investors and private Indian investors at a valuation of around $4.5-$5 billion. The company is also looking to refinance $450 million of its outstanding debt. This comes after OYO secured $175 million in funding in August.

ADIA, HarbourVest, Blackstone REIT eye deals; Sabre Partners raises new fund

VCCircle

VCCircle · 1y ago

ADIA, HarbourVest, Blackstone REIT eye deals; Sabre Partners raises new fund

ADIA and HarbourVest are reportedly in talks to acquire a minority stake in Cohance Lifesciences, with a potential investment of $350-400 million. Meanwhile, Blackstone REIT is also eyeing deals in India. In other news, Sabre Partners has raised a new fund.

Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups

Economic Times

Economic Times · 1y ago

Spyre Proptech to raise Rs 400 crore in first phase of Rs 800-crore fund to invest in 30 startups

Spyre PropTech venture fund, with support from Venture Catalysts and NeoVon, plans to raise INR 400 crore ($53 million) as the first phase of its proptech sectoral fund. The overall fund aims to raise INR 800 crore ($106 million) to invest in over 30 Indian proptech startups. The fund has obtained regulatory approval and intends to invest in early and growth stage companies in the range of INR 2-8 crore ($266,000-$1 million) and INR 15-40 crore ($2-5 million) respectively. The Confederation of Real Estate Developers Associations of India (CREDAI) is backing the venture fund.

OYO To Refile IPO Papers After $450 Mn Refinancing For Term Loan B

Inc42 · 1y ago

OYO To Refile IPO Papers After $450 Mn Refinancing For Term Loan B

OYO is reportedly preparing to refile its draft red herring prospectus (DRHP) for its upcoming IPO as it finalizes its refinancing plans. The travel tech company is looking to raise $450 million through the sale of dollar bonds with an expected interest rate of 9-10% per annum. OYO has already submitted an application to withdraw its current DRHP and plans to submit an updated version following the completion of the bond issuance. JP Morgan is expected to lead the refinancing effort.

OYO withdraws DRHP, to refile IPO post refinancing: Sources

Money Control

Money Control · 1y ago

OYO withdraws DRHP, to refile IPO post refinancing: Sources

Softbank-backed company OYO is expected to refile its IPO as it finalizes plans to raise $450 million via the sale of dollar bonds, with JP Morgan as the likely lead banker. The refinancing will result in material changes to OYO's financial statements, prompting the withdrawal and resubmission of its draft red herring prospectus. The move will extend the repayment timeline to five years and lower the effective interest rate on the existing Term Loan B facility. OYO is also considering an equity round to strengthen its financial position before going public.

Holani Consultants secures $22 mn on first close of maiden VC outing

VCCircle

VCCircle · 1y ago

Holani Consultants secures $22 mn on first close of maiden VC outing

Jaipur-based Holani Consultants Pvt. Ltd has announced the first close of its maiden venture capital fund, raising INR 184 crore (approx. $22 million). The Holani Venture Capital Fund aims to raise a total corpus of INR 400 crore (approx. $48 million), with an additional green-shoe option of INR 100 crore. The fund, managed and sponsored by Holani Capital Advisors LLP, received approval from the Securities and Exchange Board of India in April 2024, allowing the firm to raise investor funds for Indian equity markets.

Z47 to raise $300-400 million maiden fund, its first since Matrix split

Livemint

Livemint · 5m ago

Z47 to raise $300-400 million maiden fund, its first since Matrix split

Z47, formerly Matrix Partners India, is planning to raise its first independent fund since separating from its US parent. The Indian venture capital firm aims to secure $300–400 million by leveraging its portfolio of tech startups. This initiative is part of a broader fundraising resurgence in Indian venture capital, similar to Peak XV Partners' efforts, which plans to raise a $1.4 billion fund for India and Southeast Asia.

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC

Entrackr

Entrackr · 8h ago

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC Quick service restaurant chain Wow! Momo is set to raise another Rs 75 crore ($8.4 million) in its ongoing Series D round from Singularity AMC. This marks the company’s third funding round in 2025, following a Rs 150 crore raise led by Haldiram’s Kamal Agrawal, along with Khazanah and 360 One. Wow! Momo’s board approved the issuance of 7,838 Series D6 CCPS at an issue price of Rs 95,699 each to raise the above-mentioned sum from Singularity AMC, according to its filing with the Registrar of Companies (RoC). As per Entrackr’s estimates, the company will be valued at around Rs 2,838 crore ($316 million) on a post-money basis. The company will utilize the proceeds to fund capital expansion, meet working capital requirements, and for general corporate purposes to support its business growth, the filing added. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets across 17 cities, housing brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. According to startup data intelligence platform TheKredible, Wow! Momo has raised over $140 million to date, including a $42 million Series D round led by Khazanah in January 2024. Following the latest tranche, Singularity AMC will hold a 2.64% stake in the company. For FY24, Wow! Momo posted a 13% year-on-year growth in operating revenue to Rs 470 crore, compared to Rs 413 crore in the previous fiscal, while its losses remained stable at Rs 114 crore. The company has not yet filed its FY25 numbers.

InsuranceDekho nears Rs 100 Cr revenue in FY23, losses shrink

Entrackr

Entrackr · 2y ago

InsuranceDekho nears Rs 100 Cr revenue in FY23, losses shrink

Insurtech firm InsuranceDekho has reported a two-fold increase in its operating income in FY23, reaching Rs 96.5 crore ($12.8 million). The company, which raised $150 million at the end of the last fiscal year, aims to become profitable in FY24. It operates as an online marketplace for comparing and purchasing insurance policies and claims to have direct integration with nearly 50 insurers offering over 400 products. Employee benefits accounted for 70.4% of the company's overall expenditure. InsuranceDekho is in talks to raise $50 million at a valuation of around $500 million.

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