Oravel Stays, the parent company of hospitality chain Oyo Hotels & Homes, has [in March 2020] received a capital infusion of about $807 million (around Rs 5,976 crore) from two of its backers, SVF India Holdings and RA Hospitality, the Ritesh Agarwal-controlled investment entity, as part of its ongoing $1.5 billion funding round [from October 2019].

— The Economic Times

IndusLaw advised OYO, operating as Oravel Stays Private Limited, led by a team of senior partner Avimukt Dar, principal associate Nikita Goyal and associate Aadhya Chauhan.

Morrison & Foerster LLP partner Amit Kataria advised Softbank Vision Fund.

Oyo’s breakneck expansion to become - by some metrics - one of the world’s largest hotel chains, has more recently hit choppy waters with the Covid-19 pandemic that makes it unlikely that it’ll be able issue the same number of fundraising and M&A mandates to its law firms.

Besides this Series F round, IndusLaw had been a regular adviser of Oyo’s, such as on buy of a hotel group in Chennai in 2019.

However, Oyo has used a variety of Indian law firms, including AZB & Partners in its 2018 fundraise of $600m and several acquisitions of other businesses. Shardul Amarchand Mangaldas has also advised Oyo on hotel buys.

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.

2019-10-01

Deal value: USD 1.5 billion