OYO: Buying is happening in OYO even before the IPO, know who bought shares worth Rs 100 crore:

OYO: Buying is happening in OYO even before the IPO, know who bought shares worth Rs 100 crore

Business

Desk 2024-12-15 01:32:00

OYO investment: Nuvama Wealth and Investment Limited has bought shares worth Rs 100 crore in Oyo's parent company Oravel Stage Limited at a rate of Rs 53 per share. With this deal, Oyo's valuation has reached $ 4.6 billion. According to sources, Nuvama completed this transaction on behalf of a group of its investors and family offices.

OYO's valuation rises

According to sources, the deal provides an opportunity for partial exit by Oyo's early investors. Oyo's valuation has seen a rise recently, but it is still far from its highest valuation of $10 billion. The deal is likely to happen at a market price of Rs 53-60 per share, which could take Oyo's valuation to $5.2 billion.

OYO profit and future

Oyo has earned profit in the first quarter of FY 2024-25. Oyo founder and CEO Ritesh Agarwal recently informed this to the employees in a meeting. This financial success is a positive sign ahead of the company's IPO (initial public offering).