Oravel Stays, the parent company of hospitality chain Oyo Hotels & Homes, has received a capital infusion of about $807 million (around Rs 5,976 crore) from two of its backers, SVF India Holdings and RA Hospitality, the Ritesh Agarwal-controlled investment entity, as part of its ongoing $1.5 billion funding round [from October 2019].
IndusLaw advised
Morrison & Foerster LLP
Oyo’s breakneck expansion to become – by some metrics – one of the world’s largest hotel chains, has more recently hit choppy waters with the Covid-19 pandemic that makes it unlikely that it’ll be able issue the same number of fundraising and M&A mandates to its law firms.
Besides this Series F round, IndusLaw had been a regular adviser of Oyo’s, such as on buy of a hotel group in Chennai in 2019.
However, Oyo has used a variety of Indian law firms, including AZB & Partners in its January 2019 fundraise of $600m and several acquisitions of other businesses. Shardul Amarchand Mangaldas has also advised Oyo on hotel buys.
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2020-03-01
Deal value: USD 1.5 billion