Oyo extends bonus share deadline as IPO nears
Oyo pushed back its deadline for unlisted shareholders to select bonus share options by six days as the hospitality company prepares for a public listing valued between $7 billion and $8 billion. The extension moves the cutoff from Friday to November 7, with the firm citing strong initial participation and a desire to give investors adequate consideration time. The company eliminated the requirement to submit Client Master Lists alongside election forms.
Shareholders receive one preferred share for every 6,000 equity shares held under the bonus program. Two pathways exist for conversion: an immediate fixed option turning each preferred share into one equity share, or a milestone-linked alternative paying out only after the company hires investment bankers for its potential offering during the current fiscal year. Founder Ritesh Agarwal and investor SoftBank cannot participate in the bonus distribution.
Oyo defended the conditional structure as a method to identify committed long-term investors. Financial performance showed earnings before interest, taxes, depreciation and amortization reaching 276 crore rupees in fiscal 2023, climbing to 893 crore rupees in fiscal 2024 and 1,102 crore rupees in fiscal 2025. First-quarter results for the current year registered 550 crore rupees in EBITDA.
