Oyo Founder’s Salary Is Rs 1.53 Lakh/Day! Salary Increased By 250% To Rs 5.6 Crore
The leading hospitality chain company OYO Rooms has recently filed new financial documents, its latest draft red herring prospectus (DRHP) with the markets regulator SEBI.
![Oyo Founder's Salary Is Rs 1.53 Lakh/Day! Salary Increased By 250% To Rs 5.6 Crore](https://trak.in/wp-content/uploads/2022/09/Untitled-design-1-17.jpeg)
As per the updated documents, the company’s Founder and Chief Executive Officer Ritesh Agarwal’s compensation in the preceding financial year 2021-22 shot up by 250% to Rs 5.6 crore.
The company’s updated papers also show that its total employee stock option compensation or ESOPs skyrocketed 323% to Rs 647 crore in the fiscal year under focus compared to the previous year.
Some Highlights From OYO Rooms’ Recent Filing With SEBI
- Founder and CEO Ritesh Agarwal’s salary in the financial year 2021-22 shot up a whopping 250% to Rs 5.6 crore, compared to a compensation of Rs 1.6 crore during the fiscal year ended March 2021.
- In the financial year ending March 2020, the founder and CEO of the Softbank backed hospitality chain company stood at Rs 21.5 lakh.
- The company’s updated DRHP showed that it pared the employees’ salary and bonus expenses majorly.
- However, the annual remuneration of the CEO jumped to Rs 5.6 crore in the last fiscal year.
- The total ESOP cost for the company rallied 344% on a yearly basis to Rs 680 crore in the fiscal year (FY22) from the year ago period at Rs 153 crore.
- The company plans to revive its stock-market debut after undertaking significant cost cuts, and thanks to a revival in the post-Covid environment, travel has surged and it has helped the travel-tech company recoup its losses.
- The company is of the view that it could plan for a public issue early next year.
Last year in October, the hotel chain company Oyo Rooms had filed its DRHP with the markets regulator Sebi for raising Rs 8,430 crore through a public issue or initial public offering (IPO).
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