Oyo founder Ritesh Agarwal’s investment vehicle has proposed to inject another $65.1 million into the hotel management startup, according to shareholder notifications reviewed by TechCrunch.
The investment, through Redsprig Innovation Partners, would value the SoftBank-backed company at $3.8 billion, according to terms shared in the extraordinary general meeting notice.
While this represents a 38% premium to Oyo’s recent $2.3 billion valuation — at which it secured $175 million — the implied worth remains significantly below its 2019 peak of $10 billion. (Oyo has raised more than $3.4 billion in equity and debt since its inception, according to Tracxn.)
Redsprig invested about $100 million in the recently concluded $175 million funding round.
It remains unclear who has backed Redsprig and whether Agarwal has settled the $2 billion loan he took in 2019 to repurchase Oyo shares from Peak XV and Lightspeed India.
The hospitality group is preparing to submit regulatory filings — for the third time — for an initial public offering within two months, according to a person familiar with the matter.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
If you want to read more like this article, you can visit our Technology category.
