Posted in Hotels

Now Oyo to buy shares from employees

My Times Today.

Hospitality firm OYO Friday said it has launched an offer to around 250 of its existing and ex-employees to liquidate their stock options which would have a realisable value of around Rs 40-50 crore in January 2019.

This is being executed through a secondary acquisition programme led one of our existing investors, and our board members are very supportive of this initiative, OYO said in a statement.

OYO is going to implement a strong multi-year staggered liquidity schedule for its ESOP holders way of facilitating the secondary sale or through other liquidity schemes, it added.

Commenting on the development, OYO Hotels & Homes CHRO Dinesh Ramamurthi said: “Today, we are announcing this programme for eligible employees. This is part of our continuing efforts to express our gratitude and reward our employees for their hard work, perseverance, and commitment to the company and its mission