Room for more: Oyo to raise another $1 bn as it adds stars to its hotels

The plan is to take up luxury properties in India and abroad

Oyo is eyeing $750 million to $1 billion in fresh funds in its parent company Oravel Stays over the next few months, according to sources close to the development. The SoftBank Group might lead the funding round, which will push Oyo’s valuation to $13.5-15 billion. 

Oyo is likely to spend the funds on massive diversification, an executive in the know told this newspaper. Among other things, the Ritesh Agarwal-led group is planning to manage and operate five-star and luxury properties globally. 

This fresh round of funding is separate from the recent $1.5 billion share buyback orchestrated by Agarwal. The firm