Hindustan Media Ventures invests Rs 54 crore in OYO

The fresh funding will come as a breather for the company which is slowly seeing a recovery in the business

e4m by exchange4media Staff
Updated: Jan 7, 2021 12:48 PM

HT Media-owned Hindustan Media Ventures Ltd (HMVL) has invested Rs 54 crore in hospitality firm OYO as part of Series F1 round funding. Oyo is backed by investors like SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Airbnb and Hero Enterprise.
According to a regulatory filing by Oyo, HMVL subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) of the face value of Rs 100 each for cash at an issue price of Rs 43.2 lakh per Series F1 CCCPS aggregating Rs 54 crore through private placement.

The fresh funding will come as a breather for the company which is slowly seeing a recovery in the business.

OYO Hotels & Homes is one of the world’s leading chain of hotels and homes. OYO today operates in over 800 cities in 80 countries, including the U.S., Europe, U.K., India, Middle East, Southeast Asia, and Japan.

HMVL has been on an investment spree. In 2020, it had invested in multiple new-age digital companies like Mobikwik, ReviewAdda, Hubhopper.com, and Zvesta.

In November 2020, HMVL had invested Rs 41.5 crore in digital payments platform Mobikwik as a part of its Series E round.

In October 2020, the HMVL board had approved a proposal to invest up to Rs. 6 Crore in equity shares and/or convertible equity-linked instruments of 'Padma Infocom Private Limited' (ReviewAdda). ReviewAdda owns and operates www.reviewadda.com which helps admission seekers in selecting and applying to various colleges and universities.

Under the proposed investment, basis the existing capital structure of ReviewAdda, the company had agreed to acquire either equity shares or convertible equity-linked instruments which can be converted into equity shares equivalent to 10.71% equity stake in ReviewAdda.
In July 2020, the HMVL board had approved investment upto Rs. 4.5 Crore in Parijat Innovations, in one or more tranches, by subscribing to its Compulsorily Convertible Preference Shares (CCPS). Parijat Innovations operates www.Hubhopper.com, a content-based social platform for podcast content creation, aggregation and distribution.
In February 2020, Gurugram-based prop-tech startup Zvesta had raised funding of $5.5 million in Series A round from Hindustan Media Venture. Zvesta is a 360-degree comprehensive AI-powered real-estate solutions company which is innovatively designed for buyers, sellers, developers, builders and property agents.

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