Samreen Ahmad · · 1 min readMalaysian wealth fund eyes leading Oyo’s $400m round: report
Malaysia’s Khazanah Nasional is in talks to lead a US$400 million round in hospitality and travel company Oyo Hotels, Bloomberg reported, citing sources.
Amid its delayed IPO, India-based Oyo is looking to raise funds to reduce its debt and support expansion plans, according to the report.
If the deal goes through, it would be testament to the Malaysian sovereign wealth fund’s growing interest in India. Khazanah recently invested US$42 million in Wow Momo Foods, an India-based cloud kitchen startup.
Tech in Asia has reached out to Khazanah for a comment.
SoftBank-backed Oyo had planned to raise between US$400 million and US$600 million via its planned IPO, but the plan was delayed due to volatile market conditions.
It was also in talks with several organizations earlier to refinance a US$660 million loan.
In its financial year ending 2023, the hospitality startup’s revenue grew 14.3%, while losses were down 34%.
See also: Khazanah backed out as anchor investor in eFishery’s series D round: sources
Editing by Miguel Cordon and Dhania Putri Sarahtika
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