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Microsoft invests $ 5 million in Oyo

Microsoft invests $ 5 million in Oyo
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Microsoft invests $ 5 million in Oyo

Microsoft invests $ 5 million in Oyo

New Delhi, Aug 20 (PTI) Technology major Microsoft Corporation has invested 5 5 million (about Rs 37 crore) in Oyo. This investment is made through private allotment of equity shares and essentially convertible cumulative preferred shares.

Oyo, a company in the hospitality sector, said in a regulatory notice. It states that the company operating the OYO Rooms hotel chain, Aravel Stage Pvt. Ltd. The extraordinary general meeting on July 16 awarded Microsoft Corp. रु 4,971,650, equivalent to 2 4,971,650, on the basis of the company’s F2 compulsory convertible cumulative preference shares and the company’s equity shares.

Under the agreement, OYO will issue five equity shares with a face value of Rs 10 each at the issue price of Indian Rupees, equivalent to 58,490. It has also approved the issuance of 80 CCCPS of the F2 series with a price tag of Rs 100 each and the equivalent value of माल 58,490 for each series F2.

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