INSUBCONTINENT EXCLUSIVE:
OYO's employees and ex-staffers have actually purchased over 3 crore sharesNew Delhi: More than 500 workers and ex-employees of IPO-bound
OYO have actually exercised their stock options grants to purchase over 3 crore shares of the business, according to regulatory filings by
the hospitality chain.These shares have actually been purchased by the staff members and alumni by exercising their vested Workers' Stock
Choice Plan (ESOPs), based on the filings.OYO had actually provided deeply marked down ESOPs to both current and previous workers when the
effect of COVID-19 resulted in pay cuts and furloughs.On the basis of the last assessment of OYO of $9.6 billion when the business raised $5
million from tech-giant Microsoft in August in 2015, the total worth of the shares bought by the existing and previous employees of Oravel
Remains Limited, which runs OYO, would be around Rs 330 crore.When called, an OYO spokesperson decreased to comment.OYO had actually
expanded its ESOP pool by 41 per cent and it is estimated that around 80 percent of current workers at OYO have been granted ESOPs.As of
March 31, 2021, OYO had 5,130 employees around the globe, and 70.9 per cent of the total employees are based in India.Last year, in October,
the business had actually submitted initial papers with markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 8,430
crore through an initial share-sale
The proposed initial public offering (IPO) makes up a fresh problem of equity shares aggregating approximately Rs 7,000 crore and
offer-for-sale to the tune of Rs 1,430 crore, as per its draft red herring prospectus.
