OYO to raise INR 413 cr in fresh round

Budget hotels brand OYO Rooms is raising a fresh round of funding worth INR 413 cr through a proposed rights issue of shares to existing shareholders, according to documents filed with the Registrar of Companies (RoC) as per a report in The Economic Times.

The new round of funding will peg the post-money valuation of the Gurugram-based startup at INR 3,129 crore, or about USD 460 million, the filing reflects. OYO, founded by 21-year-old Ritesh Agarwal, had raised its previous round of funding of USD 100 million in August 2015 led by Japanese telecom and internet major Softbank Corp.

The above is an extract of the original article available at : hospitalitybizindia.com

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About RezNext

RezNext is the world’s only true Real-Time Distribution Management Solution provider. It empowers hotels to adopt a distribution strategy that simplifies the complex global distribution environment and makes it understandable and manageable. It is integrated with revenue management, operating intelligence and powered with reputation management insights. RezNext’s portfolio of offerings include Rate & Channel Manager, Revenue Management, Online Reputation Management, Website Designing and Web Booking Engine, Mobile solutions, Central Reservation System, Business Intelligence, Property Management System (PMS) two-way connect, GDS and OTA Interface and Loyalty & Feedback Management. Our growing range of solutions can be access by hospitality properties across market segment and size, such as independent hotels, chain hotels, business hotels, resorts, clubs, service and limited service apartments, spas, restaurants and others.
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