OYO Founder Ritesh Agarwal’s Salary increases 250% To Rs 5.6 Cr

- Advertisement -

The most renowned chain of hotels OYO Rooms has recently filed new financial documents, as well as its latest red prospectus for herrings (DRHP) in the market regulator SEBI.

As per the new document, company’s founder CEO Ritesh Agwal’s compensation during the previous fiscal year 2021-22 jumped by 25% to an amount of 5.6 crore.

Advertisements

The updated company’s documents indicate that its total employee stock option payouts (ESOPs) soared 323% to reach Rs 647 crore during the year in focus in comparison to the year before.

Some Highlights From OYO Rooms’ Recent Filing With SEBI

Advertisements

1. CEO and Founder Ritesh Aggarwal’s pay in the year 2021-22 increased by an astounding 250% to 5.6 crore, which is compared to a pay of 1.6 crore in the year-end March 2021.

2. In the fiscal year that ended march 2020, the value of the founder and chief executive officer of Softbank owned chain of hotels had a salary of 21.5 lakh. 21.5 lakh.

Advertisements

3. The latest version of the company’s DRHP indicated that it reduced the salary of employees and bonus costs significantly.

4. However the annual salary of the CEO was increased to the sum of Rs 5.6 crore during the last fiscal year.

Advertisements

5. The overall ESOP expense for the company jumped 344%, on a year-to-year basis to reach Rs 680 crore during this fiscal year (FY22) as compared to the previous year’s period of the sum of Rs 150 crore.

6. The company is planning to relaunch its stock-market debut following massive cost cuts and also due to a resurgence following the collapse of Covid the travel industry has exploded and has allowed the company to recover its losses.

Advertisements

7. The company is of the opinion that it may plan an initial public offering in the coming year.

In October last year the hotel chain Oyo Rooms had filed its DRHP with the regulator for markets Sebi to raise an amount of around Rs 8,430 crore via an issue to the public or through an initial public offer (IPO).

Advertisements
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest

- Advertisement -

More Articles