Ritesh Agarwal to increase shareholding in OYO with fresh infusion

Quick Summary:

Founder and CEO of OYO Ritesh Agarwal will increase his shareholding in hotel chain startup OYO to 32% with a fresh infusion of Rs 550 crore according to a recent shareholder notice.

The share purchase will be held at a 45% premium from the company’s last round of funding in August.

Per data from research platform Tracxn, OYO recorded Rs 5,541.6 crore in revenue for FY24 and a net profit of Rs 229.6 crore.

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Article Details

Author / Journalist: Payal Ganguly

Category: StartupsEconomyBusiness

Markets: IndiaCanada

Topics: Shareholding Policy Privacy Increase Profit Infusion Ritesh Company Million Agarwal Crore

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 06:00:59 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23650372

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