By siliconindia | Thursday, 07 January 2021, 04:09 Hrs Hopitality major OYO Hotels & Homes has raised Rs 54 crore from Hindustan Media Ventures Ltd. According to a filing with the Registrar of Companies (RoC), OYO has raised the capital as part of its series F1 funding round. With this investment, Hindustan Media Ventures subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) of OYO, with a face value of Rs 100 each for cash, at an issue price of Rs 43.20 lakh per Series F1 CCCPS for an aggregate consideration equivalent to Rs 54 crore on a private placement basis. OYO, however, declined to comment on the development.
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Hospitality firm Oyo has raised Rs 54 crore from Hindustan Media Ventures as part of Series F1 round, according to a regulatory filing by the company.
Hindustan Media Ventures Ltd subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) of the face value of Rs 100 each for cash at an issue price of Rs 43.2 lakh per Series F1 CCCPS aggregating Rs 54 crore through private placement, according to the filing to Registrar of Companies. When contacted, the company declined to comment. The fresh fundraising by the hospitality start-up came at a time when it is slowly recovering from the impact of coronavirus pandemic.