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AZB acts for Oyo on $32m buy of Innov8 co-working space

In a bid to diversify its business from hotel to co-working spaces, OYO has announced the acquisition of Innov8, a co-working space provider for ₹220 crore. The investors of Innov8 have taken an exit after the deal. Post-purchase, the founder of Innov8 Ritesh Malik will continue to expand Innov8 under the leadership of OYO. The Innov8 team will also remain intact post-acquisition.

AZB & Partners advised Oravel Stays Private Limited (Oyo) and its subsidiaries led by a team of partners Niladri Maulik and Jaishree Tolani Lamba, and associates Shreya Basu, Rohit Dutta, Paulose Abraham and Priyanka Hazarika.


Deal value: $23.2m / INR 1600m

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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