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 .
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 pump an additional $500m 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 RA Hospitality, a Cayman-registered entity, to transact the unprecedented deal which will see the 26-year-old increase his shareholding in the firm he founded in 2013 to an estimated 30% and value the company at $10bn. OYO Hotel & Homes recently entered the co-working sector.