OYO increases authorised share capital to ₹901 crores
The increase was approved in a September 1 extraordinary general meeting held over video conferencing, the company said in a September 5 regulatory filing seen by Mint.
Oravel Stays Pvt. Ltd, which operates the OYO Hotels and Homes business, has expanded its authorized share capital from ₹1.17 crore to ₹901 crore, ahead of a planned public share sale next year.
The increase was approved in a September 1 extraordinary general meeting held over video conferencing, the company said in a September 5 regulatory filing seen by Mint.
The company also seeks to allot close to 97 Series F2 cumulative compulsorily convertible preference shares (CCCPS) to Salesforce Ventures, it declared in a separate regulatory filing with the ministry of corporate affairs (MCA) on the same date.
“As a prominent travel tech company, we receive regular interest from strategic and financial investors. However, there has been no such investment or transaction till date that you are referring to,” an OYO spokesperson said about the allotment to Salesforce Ventures.
Salesforce India did not respond to Mint’s queries until press time. Salesforce could not be reached for a comment.
Last month, OYO issued close to 80 Series F2 CCCPS shares of the face value of ₹100 each to Microsoft at an issue price of the rupee equivalent of $58,490 per Series F2 shares.