Ritesh Agarwal's $693m share buy back plan approved by OYO board
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Ritesh Agarwal has received a green signal from the OYO board to buy back shares in a secondary transaction to increase his stake in the company. OYO has grown to be a franchisee model and the company has extended its services to more than 800 cities in over 80 countries, including India, Indonesia, Japan, UK, China and the US. The approval was given in an extraordinary general meeting of the shareholders.