The board of Oravel Stays, which owns and operates Oyo Hotels & Homes, has cleared a $1.5 billion primary capital infusion into the company by its largest institutional stakeholder SoftBank Vision Fund and RA Hospitality. In a special resolution passed at an extraordinary general meeting of shareholders, SVF India Holdings Cayman Islands-registered entities, has been issued 15,325 Series F compulsorily convertible preference shares at a price of $52,643.22 a share, while RA Hospitality, the special purpose vehicle also domiciled in the Cayman Islands, has been issued 13,169 equity shares, at the same price

(ET Tech)