Oyo's funding to finance global expansion, acquisitions: filings
global expansion (including acquisitions) are among the objectives cited behind Oyo's latest fund raise and increasing its authorised share capital, as per the regulatory documents seen by ET.
ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.
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Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitAs per the scrutinizer’s report seen by ET on Friday, 99.99% of the voters voted in favour of altering and increasing the authorised share capital of the company to Rs 1341.14 crore. Basis this approval, an additional 44 crore Series G compulsory convertible cumulative preference shares (CCCPS) shares with a face value of Rs 10 each will be added to the authorised share capital of the company.
Majority voters also voted in favour of issuing 14.37 crore Series G CCCPS shares to InCred Wealth and Investment Services Private Limited on a private placement basis.
These preference shares, valued at Rs 29 each will raise Rs 416.85 crore for Oyo.
According to the scrutinizer’s report seen by ET on Friday, the calculation of voting rights for the equity
