OYO scraps bonus issue, plans simpler share structure for shareholders

New Delhi: Travel-tech platform OYO on Monday said it will not proceed with the current bonus issue proposal and instead will introduce a “simplified” structure for all shareholders shortly.

The company will introduce a “simplified” structure that includes all holders of its unlisted shares, ensuring equal participation and transparency, following shareholder feedback.

The decision comes amid concerns from some online users about the short three-day application window and the complex structure of the Compulsorily Convertible Preferential Share (CCPS) resolution proposed by the company earlier via postal ballot.

In a statement, OYO said the new, simplified bonus structure will apply to all shareholders, including those with small holdings and CCPS holders.

“We are not proceeding with the current resolution and will shortly bring a fresh, unified proposal for shareholder approval in accordance with the Companies Act, 2013. The revised structure will be announced in the coming days and will not require any application process,” a PRISM spokesperson said.

PRISM is the parent company of OYO.