Ritesh Agarwal to invest Rs 550 crore to increase his shareholding in Oyo
Oyo’s founder and CEO Ritesh Agarwal is slated to buy another Rs 550 crore worth of shares to increase his stake in the company, as per documents seen by ET.
According to the documents accessed by ET, Agarwal is set to buy Rs 550 crore worth of shares at 42.60 per share, a 45% premium to his last purchase in August 2024.
Oyo’s last funding round of $175 million was led by Agarwal who bought $100 million worth of shares. It also included participation from various family offices and private investors such as InCred Wealth, J&A Partners — the family office of Mankind Pharma promoters, ASK Financial Holdings and investor Ashish Kacholia.
With the current two purchases, his shareholding will increase to 32% from 30% held earlier. As per the documents, the objective behind the issuance includes supporting the company's global expansion (including acquisitions) and enhanced business plan.
Queries sent to Oyo remained unanswered till the time of going to press.
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