Oyo’s founder and CEO, Ritesh Agarwal, is set to personally invest ₹550 crore in the company as part of its global expansion strategy. This proposal will be discussed as a special resolution during Oyo’s extraordinary general meeting (EGM) on December 9.
Key Highlights:
- Agarwal’s Increased Stake: Agarwal plans to buy over 12.9 crore shares at ₹42.60 each, boosting his stake in Oyo from 30% to 32%. This purchase is at a 45% premium compared to his last investment in August 2024.
- Valuation Update: The investment values Oyo at approximately ₹32,000 crore, per a Moneycontrol report.
- Recent Acquisition: Oyo acquired Motel 6 and Studio 6 from Blackstone Real Estate for $525 million in September 2024, strengthening its presence in the US hospitality market.
- US Expansion:
- Oyo, which launched in the US in 2019, now operates 320+ hotels across 35 states.
- Added nearly 100 hotels in 2023, with plans to onboard 250 more properties in 2024.
Strategic Significance:
This personal investment and the acquisition of Motel 6 signal Oyo’s aggressive push into the US hospitality market and broader global expansion, reinforcing its position as a major player in the industry.
