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OYO receives ₹634 cr from parent entity Oravel Stays

Oyo Hotels & Homes has received Rs 634.49 crore in capital infusion from its parent entity Oravel Stays, the company’s regulator filings sourced from business intelligence platform Tofler showed. Responding to FE’s query, a company spokesperson said, “This is a business as usual transaction, where the parent entity, Oravel Stays, is in the process of funding the operational and business requirements of OYO’s India operations, and global shared services, including servicing a large part of our global operations, through its subsidiary, OYO Hotels and Homes. The filing is regarding that.”

News source ~ Financial