News
DMD Advocates Advised Innov8 Workspaces India Limited
14 Feb 2025
- DMD Advocates
- Deal Reporting
DMD Advocates advised Innov8 Workspaces India Limited (formerly known as Oyo Workspaces India Private Limited), a company providing flexible workspace solutions under the brand name “Innov8,” and its shareholder, Oyo Hotels and Homes Private Limited (subsidiary of Oravel Stay Private Limited), in a secondary sale and primary investment by InCred Wealth and Investment Services Private Limited in Innov8 Workspaces India Limited. The funding round was priced at a valuation of INR 1,000 crore. While the deal size remains confidential, it exceeds USD 10,000,000.
This marks the beginning of a successful growth phase for Innov8 in the ever evolving and growing workspace business. The company plans to leverage this fresh infusion to accelerate its expansion in India, aiming to double its coworking centers to 100 by 2025.
The transaction was led by Pallavi Puri (Partner), along with Shubhangi Bhatnagar (Principal Associate) and Arnav Mithal (Associate), under the guidance of Rashi Dhir (Senior Partner & Head of Corporate) and the corporate leadership of Rakesh Prusti (Group General Counsel, OYO Group) and Anshuman Singh (AVP Legal, OYO Group).
