Ahead of planned IPO, Indian hotel chain Oyo bags $5m from Microsoft

Oyo Rooms in Bangalore. Photo: Booking.com

Microsoft Corp has invested $5 million in SoftBank-backed Oyo, according to a regulatory filing, ahead of the Indian hotel chain’s plan to go public.

Oravel Stays Pvt Ltd (Oyo) approved on July 16 the issue of equity shares and convertible cumulative preference shares amounting to rupee equivalent of $5 million to Microsoft in a private placement, according to a filing by Oyo with the Registrar of Companies.

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