OYO Founder's $1.5 billion share buyback gets CCI approval

Budget hospitality startup OYO's Founder Ritesh Agarwal has secured the approval for a $1.5-billion share buyback plan from the Competition Commission of India (CCI). Agarwal is purchasing a $1.5-billion stake from early OYO investors Lightspeed Venture Partners and Sequoia India and is receiving a $2-billion loan from three Japanese lenders. He will invest the rest $500 million in the startup.