Oyo raises $660 Mn in debt funding

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Oyo Hotels & Homes has closed a debt financing round of $660 Mn from global institutional investors even as the country still grapples with the pandemic. The company did not disclose names of the investors however according to sources privy to the development investors who participated in the round include Fidelity Investments, Citadel Capital Management and Varde Partners.

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"Oyo is well capitalised and on the path of achieving profitability. Our two largest markets have demonstrated profitability at the slightest signs of industry recovery from the COVID-19 pandemic," said Abhishek Gupta, Group Chief Financial Officer, Oyo.

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