Oyo’s funding to finance global expansion, acquisitions: filings

An ‘enhanced business plan’ and supporting the company’s global expansion (including acquisitions) are among the objectives cited behind Oyo’s latest fund raise and increasing its authorised share capital, as per the regulatory documents seen by ET.

ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo’s authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.