OYO Chief Ritesh Agarwal's Pay Rises 250% To Rs 5.6 Crore
NDTV
Ritesh Agarwal, the Founder and CEO of OYO, earned Rs 5.6 crore in compensation in the last fiscal year, an increase of 250 percent.
Ritesh Agarwal, the Founder and Chief Executive Officer of Softbank backed-OYO, earned Rs 5.6 crore in compensation in the last fiscal year, an increase of 250 percent from the year before, according to the firm's filing with market regulator SEBI on Monday.
Global hospitality services platform OYO filed new financial documents to its earlier submitted draft red herring prospectus to market regulator Securities and Exchange Board of India, and now plans for a public issue early next year.
In that regulatory filing, details showed the company cut employee's salary and bonus expenses significantly, according to the firm's latest regulatory filing.
But the CEO's compensation jumped to Rs 5.6 crore in the last fiscal year , FY22, from Rs 1.6 crore in the year before that. His salary was Rs 21.5 lakh for the fiscal year 2020.
