Microsoft in talks to buy stake in Oyo for $9 billion: Sources

Microsoft is in advanced stages of discussions to pick up a stake in OYO that would value the hospitality firm at about USD 9 billion (around Rs 67,000 crore), according to sources. While the deal size is not known, sources close to the development said it will not be a significant stake.

The transaction is likely to be completed before the proposed initial public offering (IPO) planned by OYO, for which no definitive timeline has been given.

OYO and Microsoft did not respond to queries seeking comments on the matter.

Earlier this month, OYO had raised a term loan B (TLB) funding of USD 660 million (nearly Rs 4,920 crore) from global institutional investors. The capital will be used for paring debt and other business investments.