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OYO Founder Ritesh Agarwal To Raise Stake In The Company

Inc42 · 4m

OYO founder Ritesh Agarwal is looking to increase his stake in the company from 30% to 32% with a fresh investment. The funds will be used to finance the acquisition of US-based hospitality chain Motel 6 and Studio 6. Agarwal plans to buy an additional $60 million worth of shares from OYO at a 45% premium to his last purchase in August, further raising his stake.