OYO Aquires US Motel Chain In $525 million All-Cash Deal
Oravel Stays, the parent company of the Indian travel technology company OYO, has acquired G6 Hospitality for $525 million in an all-cash deal. G6 Hospitality is an American company that has franchised iconic brands like Motel 6 and Studio 6, and it is owned by Blackstone Real Estate. This deal is expected to close in […]
Swiggy IPO Coming Soon: To File Draft Papers
Swiggy – India’s prominent food delivery platform – is about to make its entry into the public market with its upcoming IPO. The company is expected to file its Draft Red Herring Prospectus (DRHP) with SEBI. With this IPO, Swiggy is planning to raise approximately $1.25 billion (approx Rs. 10,400 crore). IPO Details And Funding Goals […]
Big Relief For NSE- SEBI Drops Charges Against NSE Co-location Case
The Securities And Exchange Board of India(SEBI) has dropped all charges against the NSE & its ex-officials in the Co-location Case. Citing a lack of evidence, the Indian market regulator dropped charges against seven former executives including Chitra Ramkrishna, Ravi Narain, and Anand Subramanian. The History Of Alleged Co-location Scam In 2015, NSE filed its […]
Waaree Energies IPO Delayed Over Non-Compliance
India’s largest Solar Panel maker Waaree Energies is still waiting for approval of its IPO. This is after 8 months of filing draft share sale papers with SEBI after concerns about Companies Act non-compliance. This noncompliance restricts unlisted companies from selling shares to more than 200 people without a public offer. Many Companies Facing Delay […]
NSE Applying IPO For The 3rd Time In 8 Years
The National Stock Exchange (NSE), which is the largest stock exchange in India is planning an IPO again. This is the 3rd time NSE is going to SEBI to launch an IPO after a long 8 years of regulatory battle. The leading stock exchange has applied for a ‘No Objection’ certificate with the capital market […]
Cochin International Airport To Open India’s Biggest Aero Lounge On September 1
Cochin International Airport (CIAL) is all set to introduce world-class facilities in a budget-friendly manner. Kerala’s Chief Minister Pinarayi Vijayan will inaugurate the aero lounge at CIAL on Sept 1. Affordable Luxury Concept There is an innovative ‘affordable luxury’ concept introduced here. The 0484 Aero Lounge prioritizes exceptional premium lounge experience at hourly rates. This […]
CIAL Is Diversifying, Aims 1000 Crore From Non-Aviation Ventures
Cochin International Airport Limited (CIAL) is now ambitiously expanding its operations beyond Aviation, aiming to generate Rs 1000 crore in revenue by non-aviation projects. This implies their efforts for financial growth beyond their traditional activities. Multiple Revenue Streams Beyond Aviation, CIAL is targeting multiple revenue streams and projects like real estate, commercial operations, and related […]
Oyo Acquires French Start-Up Check My Guest In Cash & Stock Deal
OYO, the global hospitality company, has recently expanded its portfolio by acquiring Checkmyguest, a Paris-based premium rental homes provider. The deal, valued at INR 230 Crore (approximately $27.4 Million), involves both cash and stock components. This strategic move follows closely on OYO’s recent funding round. The company raised INR 1,457 Crore (about $175 Million) in […]
Oyo Secures Rs 1457 Cr Funding, Ritesh Agarwal Invests
Oyo, a leading player in the hospitality industry, has successfully raised ₹1,457 crore (approximately $175 million) in a Series G funding round. This latest investment comes from a diverse group of investors, including InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma promoters, and ASK Financial Holdings. Strategic Investment Utilization Oyo plans […]
Oyo Posts First Ever Annual Profit Of Rs 229 Crore In FY 2024
Hospitality unicorn Oyo has reported its first-ever profit after tax (PAT) of about Rs 229 crore for the financial year 2023-24 (FY24), as revealed in its latest annual report. The company stated that this remarkable turnaround comes on the heels of eight consecutive quarters of positive Adjusted EBITDA, demonstrating the company’s sustained financial improvement. OYO […]
