oyo: Qatar Insurance, HNIs buy into IPO-bound OYO

NEW DELHI: Several investors, including Middle East-based composite insurer Qatar Insurance Company (QIC) and a few high net worth individuals, have purchased stakes in IPO-bound Oyo in November and December, said three people in know of the matter.
These were secondary transactions executed at a price of around Rs 110 per share, and included nearly 1.43 crore equity shares as well as 2,500 preference shares. The transactions valued Oyo at around $9.56 billion similar to the last round of funding by Microsoft for the hotel aggregator.
Oyo’s existing investors include Softbank, Sequoia Capital, Lightspeed Ventures, Greenoaks Capital, Airbnb and Hindustan Media Ventures, while founder Ritesh Agarwal holds a 33% stake in the company.
The shares were primarily being offloaded by OYO’s Employee Welfare Trust, which holds them on the behalf of its employees,as a part of its ESOP…

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