With the fresh funds, PALMONAS aims to expand offline retail with exclusive stores in major cities and enter global markets like the US, Middle East, and Southeast Asia, while investing in AI-driven personalised jewelry recommendations.
Oyo plans to deploy the funds towards global expansion, including potential acquisitions, strengthening business strategies, and other corporate initiatives.
Oyo in a blog post said these claims received by the IRP as part of the standard process but aren't reviewed, assessed, contested or confirmed, or even adjudicated (as some of these may pertain to ongoing disputes) yet
Bengaluru-based Roxel Inn owner Betz Fernandez has sued OYO founder Ritesh Agarwal and six others alleging that the company has not paid rent for the last five months