Funds sought by hotel startup to bolster balance sheet, service older loans. : India’s Oyo Hotels is looking to raise $600 million in debt to bolster its finances, according to a person familiar with the matter, after a fresh coronavirus surge decimated travel demand and hurt the company’s recovery effort. The board of Oyo, or Oravel Stays Pvt as the parent company is officially called, approved a plan for an institutional term loan at meetings over Wednesday and Thursday, the person said, asking not to be named as the deal hasn’t been made public.