ShortPedia
Smart Content App Hand picked content everyday

Image Credit: shortpedia

Ritesh Agarwal's $1.5 Bn stock buyback plan gets the green signal from C.C.I

OYO's founder Ritesh Agarwal has got the nod of Competition Commission of India (CCI), for his $1.5Bn stock buyback plan. This decision will allow Agarwal to initiate a transaction through newly formed Cayman-based RA Hospitality Holdings. The company's valuation will grow to $10 Bn after the transaction. Whereas Agarwal's stakes will grow to 30% from 9%. The company will also get a primary infusion of around $1.5 Bn.