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Indian wealth management firm buys $12m Oyo shares
Oyo’s valuation is at US$4.6 billion after Nuvama Wealth bought 100 crore rupees (US$12 million) worth of shares in Oyo’s parent, Oravel Stays Ltd.
The shares were priced at 53 crore rupees (US$6.63 million) per share in a recent secondary transaction.
This valuation marks a notable decline from Oyo’s peak valuation of US$10 billion.
Oyo also announced the acquisition of G6 Hospitality, the parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for US$525 million in an all-cash deal.
Recent Oyo developments
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18-Nov-2024 📊 Oyo CEO increases $65m stake
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17-Jun-2024 🏨 Oyo finalizes up to $125m raise at discounted $2.5b valuation: report
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30-May-2024 💰 Oyo records first-ever net profits: founder
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22-May-2024 📉 Oyo drops IPO bid anew: report
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08-May-2024 🏨 Oyo in funding talks at 70% drop in valuation: report
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