OYO raises $50 million from InCred Wealth and Investment, valuation cut by 76 per cent

OYO, the online hotel aggregator, has reportedly raised ₹417 crore or $50 million from InCred Wealth and Investment at a valuation of ₹19,756 crore ($2.38 billion), a fall of 76 per cent from its peak valuation of almost $10 billion.

According to an Entrackr report, while this latest funding comes after a gap of three years, the travel tech platform will issue 14.37 crore Series G CCPS (compulsorily convertible preference shares) at an issue price of ₹29 each to raise the funds.