Business
OYO increases its ESOP pool by 41%

Hospitality major OYO has expanded its Employee Stock Option Plan (ESOP) pool by 41 per cent with the addition of another 20 crore shares.
The company has added 20 crore shares of the face value of Re 1 to the existing ESOP pool taking it to a total of 63 crore shares, according to a filing with the Registrar of Companies (RoC).
Market participants are expecting OYO to be valued between $14-16 billion at the time of its IPO which will value its increased ESOP pool at over $1 billion.
OYO was one of the first companies in India to offer deeply discounted ESOPs to both active and inactive employees when the impact of Covid-19 led to pay cuts and furloughs.
According to people in the know, over 80 per cent of current employees at OYO have been granted ESOPs.
The Board of Oravel Stays Private Limited, the parent company of OYO recently approved the increase in the authorised share capital of the company from Rs 1.17 crore to Rs 901 crore. The travel tech major is likely to file its DRHP with market regulator SEBI within the next few months.
It has applied for conversion into a public limited company.
Business
Peace is never free, it is earned: Gautam Adani hails ‘Operation Sindoor’

Ahmedabad, June 24: Gautam Adani, the Chairman of the Adani Group, on Tuesday hailed the Indian Armed Forces for successfully performing ‘Operation Sindoor’, saying their courage reminded us that peace is never free and is rather earned.
Addressing the Adani Enterprises’ Annual General Meeting (AGM), the Chairman said that during ‘Operation Sindoor’, “our brave men and women in uniform stood tall, not for fame, not for medals, but for duty”.
“Their courage reminded us that peace is never free. It is earned. And the freedom to dream, to build, and to lead stands firmly on the shoulders of those who protect. Operation Sindoor showed that India knows the worth of peace. But if someone shows us an eye, we know how to respond in their language,” the billionaire industrialist said while addressing the 33rd annual general meeting of the Adani Group shareholders.
‘Operation Sindoor’ was launched last month to target terror sites in Pakistan and Pakistan-occupied Kashmir (PoK).
Gautam Adani said he is “humbled by the silent sacrifices” of those who guard India’s “borders, families and dignity”, adding that the Adani Defence’s drones were part of ‘Operation Sindoor’ too.
“When it comes to Adani Defence — Operation Sindoor called, and we delivered. Our drones became the eyes in the skies as well as the swords of attack, and our anti-drone systems helped protect our forces and citizens. As I have always believed, we don’t operate in safe zones. We operate where it matters – where India needs us the most,” Gautam Adani noted.
The Adani Group Chairman also paid tributes to the victims of the crash of Air India’s Boeing 787-8 Dreamliner in Ahmedabad on June 12, which crashed shortly after takeoff to London.
“We bow our heads in grief for the lives lost in the tragic crash of Air India flight,” he said. “So many dreams were silenced in an instant,” Gautam Adani added.
International
Operation Sindhu: 219 Indian nationals from Iran, 161 from Israel arrive in Delhi

New Delhi, June 24: A total of 380 Indian nationals — 219 from Iran and 161 from Israel — arrived safely in New Delhi on Tuesday as part of the government’s ongoing Operation Sindhu, the Ministry of External Affairs (MEA) confirmed.
With the latest arrival, India has now brought back 2,295 of its citizens from Iran amid the escalating conflict in the Middle East.
The Israel leg of the operation, which began on Monday via Jordan, marked its first successful repatriation flight, with 161 citizens landing in New Delhi from Amman on Tuesday morning.
The MEA posted on X, “292 Indian nationals were evacuated from Iran on a special flight that arrived in New Delhi from Mashhad at 0330 hrs on June 24. 2295 Indian nationals have now been brought home from Iran.”
In another post, the ministry added, “The Israel leg of Operation Sindhu began on June 23, 2025, bringing home the first group of 161 Indian nationals from Israel. They safely arrived in New Delhi today at 0820 hrs from Amman, Jordan.”
Union Minister of State for External Affairs Pabitra Margherita personally received the group at the airport.
Speaking to media, he said, “I am very happy to welcome the first batch of 161 Indian nationals evacuated from Israel. This group has safely arrived just a short while ago at New Delhi airport.”
“We are closely monitoring the situation and are committed to providing all possible and necessary assistance to our citizens in Iran and Israel. Under Operation Sindhu, all the nationals are arriving safely,” the MoS added.
Many of the evacuees expressed gratitude to the Indian government for ensuring their safe return under dangerous circumstances.
“The situation was very bad in Haifa, especially after the US strikes. However, we are thankful that the Indian government did everything to bring us back safe,” said one evacuee from Israel.
“The MEA has done a great job. The transition was very smooth, and I express my gratitude to the ministry for making our transportation very comfortable,” another added.
An elderly passenger shared his traumatic experience: “I went to Israel a month ago. One day, while I was driving, attacks began. I panicked and hid behind a bush. The attacks were almost continuous. I couldn’t sleep. I thank the MEA for bringing us back.”
From Iran, similar voices of appreciation were heard.
“Despite everything going on, the Indian Embassy made every possible effort to keep us safe and comfortable. I thank the Government of India and the MEA for what they have done for us,” said one returnee.
“I was among the few Indian nationals who were able to get out of there so easily. The Mashhad Airport opened only for Indian nationals. This shows the stance of our country and the diplomacy of the Modi government,” another said.
“The embassy officials were taking care of us, ensuring we had water, food, and accommodation. We are thankful for making everything safe and comfortable,” another Indian national who was evacuated from Iran said.
Operation Sindhu continues to be a crucial mission aimed at evacuating Indian nationals from conflict-hit regions, reaffirming the government’s priority to safeguard its citizens abroad.
International
Iran strikes Israel with fresh missile attack hours after Trump’s ceasefire claim

Tel Aviv, June 24: Hours after US President Donald Trump declared a ceasefire had been achieved, Israel sounded missile sirens and urged citizens to take shelter following new strikes launched from Iran.
The Israel Defense Forces (IDF) confirmed incoming missile threats, stating that defensive units were actively working to intercept them.
Emergency services reported that a ballistic missile had hit a building in Beersheba.
While no immediate injuries were recorded, Magen David Adom confirmed that teams had been deployed to the scene to assess the impact.
The missile barrage came shortly after Iran’s announcement that it had halted all military operations against Israel as of 4 a.m. local time.
However, Iranian authorities also clarified that their ceasefire was conditional — dependent on Israel ceasing its own military actions.
This apparent contradiction followed Trump’s assertion on his social media platform, Truth Social, that a ceasefire had been reached.
He made the claim after Iran fired missiles at US military bases in Qatar. Trump posted that both Israel and Iran had agreed to halt hostilities.
However, Tehran swiftly denied receiving any formal ceasefire agreement or proposal from the United States. Iran’s Foreign Minister reiterated that Israel had initiated the war and added that Tehran had paused its military operations from 4 a.m. local time, contingent on reciprocal de-escalation from Tel Aviv. Israel has not issued any official response to Trump’s ceasefire announcement.
The conflict between Iran and Israel, now in its 12th day, began after Israel launched “Operation Rising Lion,” targeting Iranian military and nuclear infrastructure.
Since then, the region has seen continuous missile exchanges between the two nations. Iran has reportedly suffered approximately 400 casualties, while Israel has recorded around 24 deaths.
The situation intensified further when the US entered the conflict, launching precision strikes on three major Iranian nuclear facilities –Fordow, Natanz, and Esfahan — prompting heightened alerts across the Middle East.
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