Ritesh Agarwal infuses $693 Million in OYO
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According to the Ministry of Corporate Affairs filings dated December 6, OYO founder and group CEO Ritesh Agarwal has invested $693 Million in the company. OYO has allotted 13,169 equity shares at a nominal value of Rs 1 and a premium of INR 3753434.03 per share to RA Hospitality Holdings worth Rs 4942.1 Cr ($693 Mn). Agarwal is expected to hold 18.03% of the company, up from his pre-investment holding of 9.43%.