Nuvama Wealth picks up Oyo shares worth Rs 100 crore via secondary sale

Nuvama Wealth and Investment has acquired shares worth Rs 100 crore in Oravel Stays, the parent company of Oyo, through a secondary transaction at Rs 53 per share that valued the travel-tech unicorn at $4.6 billion, according to sources.

The shares were sold by InCred Wealth and China’s Huazhu Group (formerly known as China Lodging), they added. Although the new valuation is higher than its last known valuation of $2.4 billion, it is still significantly lower than its peak valuation of $10 billion.