Thursday, October 15
Oyo owned vacation home management company Belvilla by Oyo has acquired Australian short-term rental platform MadeComfy in a cash-and-stock deal, according to a resolution passed unanimously (100%) in the Extraordinary General Meeting (EGM) of Oyo parent Oravel Stays and seen by ET.As part of the deal, the company will issue shares worth $ 1.9 million (Rs 16 crore) upfront at $ 0.67 (Rs 57.09) a piece - valuing Belvilla's parent entity Oyo at close to $ 5 billion (Rs 42,500 crore) and deferred stocks post two years worth $ 9.6 million (Rs 81 crore). The transaction also involves a cash payout, which the company did not disclose publicly.MadeComfy, founded by Sabrina Bethunin and Quirin Schwaighofer in 2015, manages over 1,200 assets across Australia, including its headquarters Sydney, Melb
Microfinance company Fusion Finance reported its fourth quarterly loss in a row due to the ongoing severe asset quality stress that the sector is suffering from.The lender's net loss stood at Rs 165 crore for the fourth quarter of FY25, as compared with a net profit of Rs 133 in the year ago period, owing to higher provisions to cover bad loans. It set aside Rs 255 crore during the quarter as compared with 119 crore earlier.Pre-provision operating profit for the quarter under review stood 69% lower at Rs 90 crore against Rs 291 crore in the year-ago period.Net interest margin was at 8.57% as compared with Rs 11.59% over the same period. Its interest income at Rs 4449 crore was 22% lower year-on-year, in line with squeezed business volume.Fusion had reported a net loss of Rs 36 crore in the
