The Competition Commission of India ( CCI ) has approved Ritesh Agarwal ’s plans to buy - back OYO Hotel & Homes shares worth $ 1.5bn from existing investors and invest an additional $ 500 m into the company . However, as per clauses drawn up by Oyo, the Japanese group cannot increase its ownership beyond 49.9% without receiving approvals from Agarwal, Sequoia, Lightspeed and Greenoaks Capital. The deal will be financed by loans extended to Agarwal by Nomura and Mizuho . The founder and CEO of the company will use Ocean Hospitality , a Cayman - registered entity , to transact the unprecedented deal which will see the 26-year - old increase his shareholding in the company he founded in 2013 to an estimated 50 % and value the company at $ 10bn . OYO Hotel & Homes recently entered the co - working sector .
The Competition Commission of India ( CCI ) has approved Ritesh Agarwal ’s plans to buy - back OYO Hotel & Homes shares worth $ 1.5bn from existing investors and invest an additional $ 500 m into the company . The deal will be financed by loans extended to Agarwal by Nomura and Mizuho . The founder and CEO of the company will use Ocean Hospitality , a Cayman - registered entity , to transact the unprecedented deal which will see the 26-year - old increase his shareholding in the company he founded in 2013 to an estimated 50 % and value the company at $ 10bn . OYO Hotel & Homes recently entered the co - working sector .