JSA advises Microsoft on stake in Oyo

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J Sagar Associates (JSA) advised Microsoft Corporation in its USD5 million investment in Oravel Stays, the operator of OYO Hotels & Homes.

An in-house legal team represented OYO. The deal was signed on 23 July and closed on 8 September.

JSA’s team comprised partner Lalit Kumar and senior associate Amandeep Singh Virk.

Microsoft’s investment is by way of subscription to equity shares and compulsorily convertible cumulative preference shares.

In July, Oravel Stays had raised USD660 million in a term loan B debt financing from global institutional investors.