OYO Raises INR 54 Cr From HT's Hindustan Media Ventures
India, Jan. 7 -- Hospitality unicorn OYO has raised INR 54 Cr (over $7.5 Mn) from Hindustan Media Ventures as part of Series F1 round, according to a regulatory filing by the company. Hindustan Media Ventures is majority owned by HT Media Ltd, which publishes Hindustan Times among other publications.
The corporate venture fund subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) totalling INR 54 Cr through a private placement offer, according to the filing to Registrar of Companies. ET first reported the development.
Last month, OYO laid off around 300 employees this month, according to sources close to the company. While other reports claimed that the company has laid off 600-800 employees, ...
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