OYO-owned Innov8 sells 3% stake at Rs 1,000 crore valuation to expand co-working business
OYO-owned co-working firm Innov8 has sold 3% stake in the company to investors at a valuation of Rs 1,000 crore to expand its business amid rising demand of flexible workspace, according to sources.
Raymond Family Office has emerged as the lead investor, acquiring nearly 2% share, they added.
Global travel tech platform
OYO Group
declined to comment.
Play Video
Pause
Skip Backward
Skip Forward
Unmute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
0:00
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions settings
, opens captions settings dialog
captions off
, selected
Audio Track
default
, selected
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
지긋지긋한 빚, 월 상환액 확 줄일 수 있습니다.
오경석 법률사무소
더 알아보기
Undo
In January this year, Innov8 had raised Rs 110 crore from investors, diluting 10% of its equity to a clutch of high-profile investors including family offices of Gauri Khan, Mankind Pharma, Rupa Group, and Jagruti Dalmia.
Founded in 2015 by Ritesh Malik, Innov8 has more than 30 centres across 10 cities -- Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore.
Live Events
Innov8 has seen over 90 occupancies in its centres, driven by rising demand for flexible office spaces. It plans to reach 100 centres by end of this year.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
Innov8 has reported a profit after tax of Rs 62 crore for 2023-24 compared to Rs 2.5 crore in FY23.
The demand for
managed flexible workspaces
has risen post-COVID pandemic. Corporates of all sizes are preferring to set up offices in co-working centres to save on capital expenditure, besides having flexibility, according to property experts.
As per the data by real estate consultant Vestian, co-working operators will hold more than 100 million square feet of office space by the end of 2026.
OYO Group manages over 1.5 lakh hotel and home storefronts in more than 35 countries. It also offers a range of tech-driven products and solutions to businesses in the hospitality sector. Its global presence includes the US, Europe, Southeast Asia and the UK.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
24 minutes ago
- Business Standard
DHFL case: Expeditiously decide Kapil Wadhawan bail plea, SC tells Delhi HC
The Supreme Court on Friday asked the Delhi High Court to decide within two weeks the bail plea of Dewan Housing Finance Ltd's former promoter Kapil Wadhawan in the multi-crore bank fraud case investigated by the CBI. A bench of Justices Ujjal Bhuyan and Manmohan said Wadhawan was in custody since July, 2022 and his bail plea was coming up for hearing on July 18 in the high court. The bench asked the high court to decide the bail plea within two weeks from the date of hearing. Wadhawan moved the top court aggrieved by the orders of adjournment in his bail plea by the high court and sought an expeditious disposal of his petition. Senior advocate Siddharth Luthra, appearing for Kapil Wadhawan, referred to his client's long custody period aside from the non-adjudication on his bail plea on multiple occasions. The Wadhawan brothers -- Kapil and Dheeraj -- were arrested in this case on July 19, 2022. Dheeraj was granted interim bail by the high court on September 9, last year on medical grounds. The chargesheet was filed by the CBI on October 15, 2022 and cognisance was taken by the trial court. The FIR in the case was based on a complaint made by the Union Bank of India. The CBI alleged that Dewan Housing Finance Ltd (DHFL), its then CMD Kapil, then director Dheeraj and other accused persons conspired to cheat the consortium of 17 banks led by the Union Bank of India. The accused and others induced the consortium to sanction huge loans aggregating Rs 42,871.42 crore. Much of the amount was allegedly siphoned off and misappropriated by alleged falsification of the books of the DHFL and dishonest default in repayment of the legitimate dues of the consortium banks, the CBI claimed. The complainant alleged that a wrongful loss of Rs 34,615 crore was caused to the consortium banks in as much as such was the quantification of the outstanding dues as on July 31, 2020.
&w=3840&q=100)
Business Standard
24 minutes ago
- Business Standard
Reliance Jio partners with Krafton, offers BGMI rewards with recharge plans
Jio has introduced India's first gaming recharge plans in partnership with Krafton. Its Rs 495 and Rs 545 plans now comes with BGMI rewards, JioGames Cloud access, and daily data benefits for gamers Sweta Kumari New Delhi Telecom operator Reliance Jio has partnered with Krafton India, the developer behind Battlegrounds Mobile India (BGMI), to introduce India's first gaming recharge plans. These plans are specifically designed for BGMI players and offer a mix of in-game rewards, cloud gaming access, and mobile data benefits. Jio's gaming recharge plans: Price and benefits Two new plans are available: Rs 495 plan: Offers 1.5GB data per day, an additional 5GB data, and unlimited voice calling for 28 days. Includes a JioGames Cloud subscription. Rs 545 plan: Provides 2GB data per day, 5GB additional data, and unlimited calling for 28 days. Also includes cloud gaming access. In-game rewards for BGMI players Users recharging with these plans will receive exclusive BGMI items, including: Bard's Journey Set Desert Taskforce Mask Tap Boom Molotov Cocktail These rewards are aimed at enhancing in-game experiences and engagement for BGMI players. How to redeem BGMI in-game rewards Recharge with a Jio gaming pack Receive confirmation SMS Find your BGMI reward codes in the MyJio app Visit the official BGMI redeem page Enter your character ID and the reward code A message will confirm: 'Code has been redeemed' JioGames Cloud access Subscribers can access over 500 games via JioGames Cloud on: How to access the cloud gaming service Install and open the JioGames app Log in using the recharged Jio number Start playing instantly through the cloud This partnership reflects an effort to support India's growing mobile gaming community, according to Siddharth Merrotra, head of business development at Krafton India.
&w=3840&q=100)
Business Standard
25 minutes ago
- Business Standard
Tata AIA launches 2 new funds for wealth creation, insurance cover
Tata AIA Life Insurance has launched two new equity-linked funds (ULIP) under its unit-linked insurance plans (ULIPs). Top 200 Alpha 30 Index Fund and Top 200 Alpha 30 Index Pension Fund will be available from June 23 to June 30, 2025, at an issue price of Rs 10 per unit. Both funds are meant for wealth creation and retirement planning while offering life insurance protection under various Tata AIA insurance products, said the company. 1. Top 200 Alpha 30 Index Fund It is meant for individuals looking to create wealth while providing insurance cover to their families. The fund is benchmarked to the Nifty 200 Alpha 30 Index, which includes 30 high-performing stocks known to generate excess returns (alpha) over the market. 2. Top 200 Alpha 30 Index Pension Fund It will build a robust retirement corpus and is available through Tata AIA's Smart Pension Secure Plan. Both funds have the following asset allocation: 80 per cent to 100 per cent in equity and equity-related instruments Zero per cent to 20 per cent in cash and money market securities Features for investors Access to Alpha Stocks: Focus on companies with a strong track record of outperforming the market. Life insurance: Investors get insurance cover along with market-linked returns. Long-term wealth Focus: Ideal for financial goals that span several years, like retirement. Strategic diversification: Exposure to multiple sectors with a data-driven stock selection process. 'The new funds are positioned to capitalise on India's strong economic fundamentals and rising consumption,' said Harshad Patil, Chief Investment Officer, Tata AIA Life Insurance. 'We are combining life cover with high-growth equity exposure, giving customers both financial protection and investment growth.' Tata AIA funds' performance Top 200 Fund: 32.3 per cent CAGR in five years Multi-Cap Fund: 31.4 per cent India Consumption Fund: 30.4 per cent Notably, 99.93 per cent of Tata AIA's fund assets under management are rated 4 or 5 stars by Morningstar, much higher than the industry average of less than 30 per cent. How to invest? Investors can access these funds through select Tata AIA life insurance products such as: Param Raksha Life Growth+ / Pro / Maxima+ Pro Fit Shubh Muhurat Shubh Fortune
