Oyo in Discussions to Raise Rs 1,000 Crore from Family Offices: Report 

SoftBank group-backed Oyo is reportedly in talks to raise Rs 1,000 crore ($120 million), primarily from family offices of stock market experts and Indian corporate executives, as per a report by the Economic Times. This fundraise will reduce the company’s valuation to $2.5 billion. In 2019, the company was valued at $10 billion. Those who will participate in the fund raise reportedly include Anand Jain, corporate strategy advisor and former Reliance Industries senior executive; Ramesh and Rajeev Juneja, the founders of Mankind Pharma; and Utpal Sheth, often called the right hand of Indian investor Rakesh Jhunjhunwala. Read: Fitch Upgrades OYO Parent Oravel Stays RatingInterestingly, for new-age companies, family offices have emerged as a key source of capital. As per Investopedia, “A family office is a private wealth management advisory firm that serves ultra-high-net-worth individuals (HNWI). Family offices are different from traditional wealth management shops in that they offer a total solution to managing the financial and investment needs of an affluent individual or family.” 

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