Oyo founder to raise stakes to 30 % in whopping $2.2 Billion transaction

Oyo Hotels and Homes group chief executive Ritesh Agarwal is undertaking one of the largest stock buybacks by an Indian entrepreneur as a $2.2 billion transaction will raise his stake in the company about threefold to 30%. The founder will engage in a $1.5 billion secondary transaction which will see him partially buy out the stakes of two early investors - Lightspeed Venture Partners and Sequoia Capital.