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<keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> on Wednesday said it has revised the outlook on <keyword id="2981241" type="General" weightage="50" keywordseo="oravel-stays" source="Orion">Oravel Stays</keyword> Ltd's (<keyword id="2808667" type="General" weightage="100" keywordseo="oyo" source="Orion">OYO</keyword>) long-term foreign- and local-currency issuer default ratings to 'positive' from 'stable', while affirming the ratings at 'B-'. The ratings agency also said it has affirmed the rating on the USD 660-million senior secured term loan facility due 2026, issued by OYO's fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B-'. "The outlook revision reflects our view that OYO is on track to generate positive EBITDA and cash flow from operations (CFO) sustainably. This follows positive EBITDA in every quarter of the financial year ended March 2023 (FY23), which is the first year of profits since OYO's incorporation in 2012," <keyword id="82981" type="General" weightage="80" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings said in a statement. It further said, "We expect significant growth in its EBITDA in FY24, led by an ongoing demand recovery in the travel and tourism industry, the company's stable gross margins, and reduction in operating costs." The rating reflects OYO's asset-light business model "that benefits from minimal capex needs, largely exclusive distribution rights, pricing control over storefront inventory, fixed revenue share and strong long-term growth potential", it added. "The business profile's strengths are mitigated by the sector's high competitive intensity and demand cyclicality. The rating also reflects OYO's adequate liquidity," Fitch said. The ongoing demand recovery in the industry is expected to drive revenue growth of over 20 per cent, it said, adding, "we also expect OYO's operating leverage to benefit from a sustained reduction in costs and drive high single-digit EBITDA margins in FY24." On improved cost structure, Fitch said, "We expect the cost-reduction measures OYO undertook in recent years to support its improving profitability in FY24. We believe such reductions will not affect growth, as it has increased its business development staff to prioritise storefront additions." The ratings agency also said it estimates that "OYO's unrestricted cash at FYE23 is sufficient to fund its Fitch-estimated free cash flow deficit of around USD 7 million and annual debt repayment of around USD 6 million in FY24". However, it said, "a greater cash burn than we expect could weaken OYO's liquidity. Any potential default of the debt outstanding at one of OYO's shareholding entities owned by the founder may be a reputational risk and affect OYO's operations, and we treat this as an event risk." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/suvs-car-with-the-longest-waiting-period-in-india/slidelist/100649287.cms">Mahindra Thar, Tata Nexon and more: SUVs with the longest waiting period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/centres-fiscal-deficit-for-2022-23-at-6-4-of-gdp-cga-data/articleshow/100649200.cms">Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data</a>

Fitch Ratings revises outlook on OYO's long-term issuer ratings to 'positive' from 'stable'

<keyword id="29913" type="COMPANY" weightage="20" keywordseo="hospitality">Hospitality</keyword> major <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>' Singaporean subsidiary has received a term loan from <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>. A regulatory filing showed that <keyword id="4964826" type="COMPANY" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> (Singapore) Pte Ltd has secured a loan of $200 million from SB Investment Holdings (UK), an affiliate of <keyword id="3749718" type="COMPANY" weightage="20" keywordseo="softbank-vision-fund">SoftBank Vision Fund</keyword>, for enhancing liquidity through the pandemic and strengthening its balance sheet. The transaction was planned for 2020 and is being consummated now. <keyword id="2808667" type="COMPANY" weightage="20" keywordseo="OYO">OYO</keyword> has started recording steady signs of recovery across the globe led by its business in India, Europe and Southeast Asia while sustaining its gross margin to 100 per cent of pre-COVID levels. According to people in the know, a significant part of the funds will be diverted towards technology and data analytics. Recently, OYO's valuation reclaimed the $9 billion-mark after <keyword id="145884" type="DOMAIN" weightage="20" keywordseo="Hindustan-Media-Ventures-Ltd">Hindustan Media Ventures Ltd</keyword> invested Rs 54 crore or $7.31 million into the company. OYO Hotels &amp; Homes is present across 800 cities in 80 countries, including the US, Europe, UK, India, Middle East, Southeast Asia, and Japan. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/checkout-review-of-oppo-fitness-band-related-to-design-performance-price-and-battery-life/articleshow/81423414.cms">Oppo Band Style review – getting the basics right with a twist of flair</a> <a href="https://www.businessinsider.in/international/news/narendra-modi-joe-biden-yoshihide-suga-and-scott-morrison-are-set-to-meet-for-the-first-ever-quad-leaders-summit-on-march-12/articleshow/81424117.cms">The first-ever leaders summit of the QUAD may be another signal that it's ready for something more formal</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-cfo-explains-how-the-role-of-a-finance-head-has-been-changed-by-the-pandemic/articleshow/81423884.cms">EXCLUSIVE: TCS CFO explains how the role of a finance head has been changed by the pandemic</a>

OYO's Singapore arm secures $200 million loan from SoftBank

<ul><li>India’s hotel industry is headed for a slow recovery from the coronavirus pandemic, it is also poised to be a major contributor to <keyword id="977682" type="PERSON" weightage="20" keywordseo="online-travel">online travel</keyword>’s doubling growth over the next five years. </li><li>A Goldman Sachs report pegs hotels to be the fastest growing segment within the sector with a CAGR (compounded annual growth rate) of 20%.</li><li>Even with the hopeful outlook, hoteliers will have to be patient as the recovery is expected to be slow in the near-term.</li></ul>The battered Indian hospitality industry can make room for growth over the next five years, if they survive the low phase during the pandemic and the key to survival is a robust digital strategy. India’s millions of hotel rooms will have to opt for a digital transformation. Even though the situation looks bleak, Goldman Sachs believes that ‘all hope is not lost’ for hotels in the online space. The report dated July 2020 says that the online travel industry in India is expected to double in the next five years. <div type="image" title="travel." msid="77670730" hostid="261"></div> And hotels will be the fastest-growing segment within the sector with a CAGR (compounded annual growth rate) of 20%. “We estimate hotels alone will contribute c.47% of the online travel revenue pool in India by FY25 (36% in FY20), making it the key battleground within the space,” said the report. Adapting technology and joining branded hotel chains will be key to survival India’s current online penetration is one of the lowest in the world at just 22%, according to the report. Out of the 2 million rooms accounted for hotel rooms in India, only over 140,000 are affiliated with hotel chains. Long-term growth will be driven by budget hotels falling under the unorganized category, who are deeper in the Indian market and can be brought online, believe analysts at Goldman Sachs. “These last few months have proved that branded hotels are and will continue to be the safest environment even in the worst pandemic. Along with safety, hotel brands that figure out how to offer meaningful experiences will lead the way,” said Ankur Gupta, Managing Partner &amp; Head of India Real Estate, Brookfield Asset Management in a report by JLL. All hope is not lost While hotel chains like <keyword id="74790" type="PERSON" weightage="20" keywordseo="Lemon-Tree">Lemon Tree</keyword>, Indian Hotels Company, which is a subsidiary of Tata Group, EIH which runs Oberoi and Trident, and hospitality unicorn <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> are all set to benefit from it, the biggest beneficiary could be <keyword id="54613" type="COMPANY" weightage="20" keywordseo="makemytrip">MakeMyTrip</keyword> which currently accounts for 50% of the online hotel aggregator market. For the first three months of the year, MakeMyTrip had reported a 15.9% fall in adjusted revenue to $137.2 million. The NASDAQ-listed company also posted an adjusted operating loss of $10.3 million. MakeMyTrip, which is set to announce its earnings results today, had said during the last earnings call that the current quarter might see its losses ballooning to over $20 billion, but over the next few quarters they will bring down the loss to the $10 million range before targeting breakeven. Recovery will be slow The Hotels Association of India recently requested the <a href="http://bwhotelier.businessworld.in/article/Indian-Hotel-Sector-will-collapse-if-not-supported-by-the-Govt-and-RBI-HAI/28-07-2020-302439/">government</a> to step in to help the sector citing losses to the tune of ₹90,000 crore this year. With hotels being shut for over three months and now opening gradually across the country, the listed hoteliers have all gone to report massive losses for the first quarter of the financial year. Patanjali Keswani, Chairman &amp; Managing Director, Lemon Tree let out a word of caution even said that while he is hopeful for a gradual recovery in the second half of the year, he is still shoring up cash for the next one year, "assuming the worst-case scenario." MakeMyTrip has liquidity of nearly $168 million as of 31st March which will help them survive for two years. But despite the weak beginning to the financial year, the Unlock India phases and the gradual opening of hotels, most recently in <a href="https://www.businessinsider.in/india/news/delhi-allows-re-opening-of-hotels-and-weekly-markets-gyms-to-remain-closed/articleshow/77634741.cms">Delhi</a>, has revived the hopes and the optimism reflects in share price of the listed hoteliers this month. . <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel Chain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock action in Aug so far </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lemon Tree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chalet Hotels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+17.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EIH </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+35.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.8% </td></tr></tbody></table> Revenge travel will help the battered industry recover <a href="https://www.businessinsider.in/business/news/revenge-travel-is-the-only-way-indian-hotels-can-make-money-but-it-will-take-over-two-years-to-even-match-pre-covid-levels/articleshow/77586911.cms">Revenge travel </a>will help the hotel industry recover. The term gained popularity in <a href="https://www.scmp.com/business/companies/article/3080361/chinas-airlines-are-poised-bout-revenge-travelling-bookings">China</a>, after people having been stuck in a lockdown, started travelling within the country, to be able to just to get out of their homes. A <a href="https://www.mckinsey.com/industries/travel-logistics-and-transport-infrastructure/our-insights/the-way-back-what-the-world-can-learn-from-chinas-travel-restart-after-covid-19">Mckinsey</a> report says that the end of lockdown would mean the first thing people would want to do is eat out, and the second thing is travel. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-is-staring-at-an-internal-crisis-with-seven-cxo-level-exits-in-eight-months/articleshow/77670080.cms">Ola is staring at an internal crisis with seven CXO level exits in eight months</a> <a href="https://www.businessinsider.in/tech/apps/news/google-eyes-indias-sharechat-as-microsoft-goes-after-tiktok-in-the-us-heres-why-it-makes-sense/articleshow/77667345.cms">Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense</a> <a href="https://www.businessinsider.in/tech/apps/news/tiktok-instagram-and-youtube-data-leak-exposes-data-of-235-million-users/articleshow/77668688.cms">TikTok, Instagram and YouTube data leak exposes data of 235 million users</a>

Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels

<ul><li><keyword id="7355473" type="UNKNOWN" weightage="20" keywordseo="OYO-Life">OYO Life</keyword> has partnered with <keyword id="57604" type="CITY" weightage="20" keywordseo="iit-delhi">IIT Delhi</keyword> and <keyword id="8149820" type="UNKNOWN" weightage="20" keywordseo="plaksha-university">Plaksha University</keyword> to manage over 500 beds. </li><li>The pricing starts at ₹6,500 and goes up to ₹12,999 per bed. </li><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> Life was launched in 2018 and is present in 4 cities – Delhi, NCR, Pune and Bangalore. </li></ul>OYO Life, a subsidiary of OYO Hotel and Homes, announced that it is expanding into <keyword id="4372526" type="PERSON" weightage="20" keywordseo="student-housing">student housing</keyword> segment. It also partnered with IIT Delhi and Plaksha University to manage over 500 beds. “The demand for fully furnished, fully maintained, internet-ready accommodations and innovative services has increased manifold. We are confident that our growing presence in the student housing segment will enable us to scale 100K beds by 2019-end,” said Rohit Kapoor, CEO, New Real Estate Businesses, OYO. Oyo claims to provide students with amenities such as surveillance and security, Wi-Fi and food.The prices start at ₹6,500 and goes up to ₹12,999 per bed, per month. OYO Life launched in 2018 and is present in these cities – Delhi and NCR, Pune and Bangalore. They operate over 30,000 beds. The competition in the student housing segment is heating up. Recently, home rental startup Nestaway too said that it will enter the segment. Stanza Living is another player who has been catering to this segment for the last two years. According to a report released today by Student Accommodation Provider Association of India (SAPFI) and CBRE, the student housing sector will attract as much as $700 million investment and add 600,000 beds by 2023.

OYO enters the student housing segment, partners with IIT Delhi and Plaksha University

<ul><li><keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> took to Twitter to announce that PayPay has garnered 10 million users. </li><li>PayPay was formed out of <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s partnership with SoftBank and Yahoo Japan. </li><li>SoftBank is one of the major investors in Paytm.</li></ul>Paytm’s Japanese subsidiary PayPay has managed to net 10 million users in ten months. Paytm founder Vijay Shekhar Sharma took to Twitter to announce the same. <div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="775" retweetcount="76" status="Our Japan ‘s @PayPayOfficial 🇯🇵 business achieved a key milestone ! Just in 10 months, we are now 10 million users,… https://t.co/NGymRv1Rmp" createdat="1565254226000" id="1159386373641494530"></div>

 In October 2018, Paytm had partnered with SoftBank and Yahoo Japan to offer digital payment solutions in Japan. Through this collaboration, Yahoo Japan suspended its own wallet giving PayPay direct access to all its Yahoo wallet consumers. SoftBank is one of the major investors in Paytm. In 2017, Softbank had made its biggest bet in the Indian ecosystem by pumping in $1.4 billion in Paytm. Paytm is not the only Indian startup backed by Softbank which went to Japan. Ritesh Agarwal’s OYO where Softbank is a key investor, entered the Japanese market, thanks to its famous backer. In April 2019, OYO announced its partnership with SoftBank Corp and SoftBank Vision fund to launch Oyo Hotels Japan.

Paytm’s Japan subsidiary PayPay nets 10 million users in 10 months

<ul><li><keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have raised more money through VC <keyword id="440371" type="PERSON" weightage="20" keywordseo="fundings">fundings</keyword> and financing, beating now listed companies that raised capital via IPOs this year. </li><li>While the startups raised nearly ₹449 billion in the <keyword id="6357097" type="DEFINITION" weightage="20" keywordseo="Venture-Capital">venture capital</keyword> (VC) funding rounds in 2018, nearly 25 companies listed on stock exchanges in India garnered ₹341.17 billion from investors. </li><li>Indian market regulator SEBI has been making amendments in regulations to provide <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> as a substitute to VC funding for startups.</li></ul>2018 has turned out to be an eventful year for startup ecosystem. While several Indian startups are planning to tap the Initial Public Offerings (IPO) market as an alternative capital needs, they have already raised <a href="https://www.cnbctv18.com/market/data/indian-startups-raised-more-money-than-ipos-in-2018-1784121.htm">more money</a> through fundings and financing via the venture capital route, beating other Indian companies that raised money via IPOs this year, CNBC reported citing data from research firm, VCCEdge. Comparing the total amount <a href="https://officechai.com/startups/indian-startups-raised-money-indian-ipos-year/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts">raised by the companies</a> under the two segments — startups getting funding under the Venture Capital (VC) and other companies listed under IPOs — stats show that while the startups raised nearly ₹449 billion in VC funding rounds in 2018, nearly 25 companies listed on stock exchanges elevated with ₹341.17 billion from investors. In 2017, the companies listed under IPOs raised over ₹772 billion. On the other hand, the startup VC investments were found to be comparatively low, raising ₹243.47 billion. The biggest company under IPO, Bandhan Bank, raised ₹44.7 billion from investors this year. In fact, startups are forging ahead with nearly twice the Venture Capital ( VC) funding this year, as compared to 2017. Separately, the <a href="https://inc42.com/buzz/sebi-to-release-startup-listing-guidelines-by-january-20/">Security and Exchange Board of India</a> (SEBI) has recently floated changes in the existing regulations for the startup ecosystem. With this, the regulatory body is looking to provide IPO as a substitute to VC funding. However, the market regulator will release detailed guidelines by January 2019. It is also planning to launch a startup platform, with inputs from Bombay Stock Exchange (BSE), for its listing process across sectors — including Information Technology, e-commerce and biotech among others. ‘<keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">Unicorn</keyword> club’ India, which is the third -largest for startup ecosystem in India, <a href="http://v">added 8 new unicorns</a> to the list this year, adding up to 18 in total. Private companies with a valuation over $1 billion are the ones making to a ‘unicorn club’. Under the venture capital funding, India’s recent unicorns raised ₹70 billion in its latest round of <a href="https://officechai.com/startups/indian-startups-raised-money-indian-ipos-year/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts">fundings from international investors </a>such as Naspers and SoftBank among others. In fact, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">swiggy</keyword> entered the ‘unicorn club’ just this year, accompanied by the homegrown food major, <a href="https://www.businesstoday.in/current/corporate/newest-desi-unicorn-on-the-block-is-zomato-just-raised-usd-200-million/story/269566.html">Zomato</a>, which raised 13.99 billion from Alibaba Group’s subsidiary — Ant Financial Services. See also: <a href="https://www.businessinsider.in/indias-largest-online-learning-service-is-all-set-to-become-the-4th-highest-valued-indian-startup-with-a-254-billion-valuation/articleshow/66474294.cms">India’s largest online learning service is all set to become the 4th highest valued Indian startup with a ₹254 billion valuation</a> <a href="http://v">The Indian government may roll back a tax on angel investments that is said to be hurting the country’s startup ecosystem</a> <a href="https://www.businessinsider.in/indian-food-delivery-unicorn-zomato-to-expand-footprint-to-30-more-cities/articleshow/66915630.cms">Indian food delivery unicorn Zomato to expand footprint to 30 more cities</a>

For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles

<ul><li>The UK market will serve as the first step towards <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>’s expansion in the European market.</li><li>Nykaa had registered a subsidiary in the UK, Nykaa International UK Limited, in 2020.</li><li>Nykaa will flag off its ₹5,200 crore IPO on October 28 and will be listed in November 2021.</li></ul>Beauty and fashion ecommerce platform Nykaa — which will launch its initial public offering (IPO) later this week — plans to use the proceeds for its international expansion, the company noted in its press conference earlier today (October 25). The company soon wants to start its operations in the Middle East market as well as the United Kingdom (UK). Falguni Nayar, the founder and chief executive of Nykaa, highlighted that the demand for Indian cosmetics in the Middle East market is quite high. Therefore, the company would like to take its house of brands — which includes Katrina Kaif’s Kay Beauty, Peppa Bella, 20Dresses, Dot &amp; Key and other brands that Nykaa has set up or acquired — in this market. Meanwhile, the UK market will serve as the first step towards Nykaa’s expansion in the European market. “At the moment we are very keen to go into the Middle East, where we think there's a lot of opportunity for Indian consumption. In the Middle East we want to take many of our Indian brands. I will grant you only exposure to the markets… including Kay Beauty which will be able to do very well in the Middle Easter market,” Nayyar said. Europe, is another area of opportunity that Nykaa is going to start with and then maybe consider expansion, she added. According to its red herring prospectus (RHP), Nykaa had registered a subsidiary in the UK under the name Nykaa International UK Limited in 2020. The company is authorised to engage in the business of retail sale of cosmetics and toilet articles in specialised stores. Nykaa will flag off its ₹5,200 crore IPO on October 28. The issue will close on November 1 and the listing will be in subsequent weeks. The company intends to use this capital to add more retail stores to its network, acquire more brands and enter newer verticals. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount from net proceeds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total investment to be made </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investment in subsidiaries like FSN Brands or Nykaa Fashion to set up retail stores </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹53.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital expenditure incurred by the company and fund setting up on new warehouses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹92.4 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Repayment of outstanding borrowing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹130 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expenditure on enhancing brand visibility and awareness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">General corporate purpose* </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A </td></tr></tbody></table> *The amount utilised for general corporate purposes shall not exceed 25% of the net proceeds SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/oyo-ipo-now-faces-a-hurdle-from-zostel-and-a-hotels-lobby-with-55000-members/articleshow/87254918.cms" data-type="tilCustomLink">OYO IPO now faces a hurdle from a hotels lobby with 55,000 members, aside from Zostel</a> <a href="https://www.businessinsider.in/stock-market/news/berger-asian-shalimar-and-indigo-paints-share-price-down-from-last-five-days/articleshow/87254637.cms">Paint makers stress over high raw material costs and fewer tinting machines even as festive demand picks up</a> <a href="https://www.businessinsider.in/business/startups/news/loss-making-groww-is-now-the-most-valued-investment-platform-even-though-some-of-its-peers-make-profits/articleshow/87249142.cms">Loss-making Groww is now the most-valued investment platform even though some of its peers make profits</a>

Soon-to-be listed Nykaa plans to expand to Middle East and the UK

South Korean battery makers are estimated to have logged weaker-than-expected earnings in the third quarter amid a global shortage of automotive chips and recall of electric cars for battery fire risks, analysts said on Sunday. <keyword id="353149" type="General" weightage="20" keywordseo="samsung-sdi-co-" source="Orion">Samsung SDI Co.</keyword>, the battery-making unit of <keyword id="145888" type="General" weightage="20" keywordseo="samsung-electronics-co-" source="Orion">Samsung Electronics Co.</keyword>, is believed to have posted solid operating profit in the July-September period, but LG Energy Solution Ltd. and <keyword id="787160" type="General" weightage="20" keywordseo="sk-innovation" source="Orion">SK Innovation</keyword> Co. are expected to report tepid bottom line, according to the analysts. <keyword id="10591" type="General" weightage="100" keywordseo="samsung" source="Orion">Samsung</keyword> SDI is expected to log an operating profit of 345.2 billion won ($290 million) in the third quarter, up 29 per cent from a year earlier, according to a poll by <keyword id="378665" type="General" weightage="20" keywordseo="yonhap-infomax" source="Orion">Yonhap Infomax</keyword>, reports Yonhap news agency. Its brisk earnings are expected to be led by solid demand for electric vehicle (EV) battery products, with analysts forecasting Samsung SDI to log record revenue in the third quarter. LG Energy Solution, the world's no. 2 battery maker, is estimated to have logged an operating profit of 180-250 billion won last quarter. If its earnings reach some 180 billion won, it would mark a 75 per cent on-quarter fall. The weaker earnings outlook comes as US automaker General Motors announced in August that it will additionally recall Bolt EVs equipped with its subsidiary's batteries over fire risks. GM said it will recall some 73,000 EVs on top of similar recall of 69,000 Bolt EVs in July. LG Electronics has supplied GM with battery modules that are made with battery cells from LG Energy Solution. SK Innovation, the world's no. 5 battery maker, is expected to extend its operating loss into the third quarter, but its loss may narrow to 60 billion won from 97.9 billion in the second quarter, according to analysts. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adar-poonawalla-backed-pharmacy-chain-wellness-forever-files-for-ipo/articleshow/86699746.cms">Adar Poonawalla-backed pharmacy chain Wellness Forever files for IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-earners-at-ritesh-agarwal-led-oyo-as-per-its-drhp/slidelist/86682750.cms">OYO’s Ritesh Agarwal took home ₹1.6 crore in FY2021 — here are the top earners in the IPO-bound company</a>

You Searched For "oyo subsidiary" and got 8 results

Fitch Ratings revises outlook on OYO's long-term issuer ratings to 'positive' from 'stable'

PTI

OYO's Singapore arm secures $200 million loan from SoftBank

IANS

Here's why MakeMyTrip, OYO, Lemon Tree and likes may reap the most out of the long-term recovery in hotels

Sanchita Dash

OYO enters the student housing segment, partners with IIT Delhi and Plaksha University

Sanchita Dash

Paytm’s Japan subsidiary PayPay nets 10 million users in 10 months

Sanchita Dash

For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles

BI India Bureau

Soon-to-be listed Nykaa plans to expand to Middle East and the UK

Kritti Bhalla

Samsung and LG battery units estimated to post tepid earnings in third quarter

IANS

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