The buyback is a part of larger fund raise plan, including a public offering. Earlier this month, Mint reported that Oyo, India’s most valuable hotel chain, is preparing for an initial share sale in the next two-three years. “The buyback is thus a part of the plan to have SoftBank, the founder and one more investor," said Vivek Durai, founder of business signals platform Paper.vc. SoftBank is Oyo’s largest shareholder with over 45% stake.
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https://www.livemint.com/companies/start-ups/oyo-founder-ritesh-agarwal-to-buy-back-shares-worth-rs-13-000-crore-1563529810359.html
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