New Delhi: Giant Tech AS Microsoft will acquire strategic shares at Homegrown Hotel Chain Oyo before the proposed initial public offering (IPO).
The agreement, which will be announced soon, appreciates the Startup supported by Softbank around $ 9 billion, the source said.
Oyo, who has been the chain of the second largest hotel in the world in 2019 before the pandemic, did not comment on its development.
Microsoft also does not reply to emails from TOI.
However, the hotel beginners, led by 27-year-old Agarwal Ritesh, however, closed the $ 660-million debt financing round earlier this month from global institutional investors with plans to use capital to reduce part of their existing debt and improve the skills of the technology.
, Along with all the hospitality industry, Oyo operations have been hit by restrictions on trips related to pandemics.
Agarwal, which calculates investors including Sequoia’s capital, lightweight and airbnb as supporters, said during a pandemic that startup had around $ 1 billion in the bank.
OYO assessment has surged to $ 10 billion in 2019 of $ 850 million in 2017 before being reduced by investors behind the problem of brewing abroad and home.
Industry experts also remain skeptical of rapid expansion.