New Delhi: Hospitality services company OYO has announced that it has extended the deadline for bonus issue applications. The deadline for unregistered equity shareholders has been extended from November 1 to November 7, the company said.
OYO stated that it had received feedback from shareholders during the postal ballot process and decided to provide investors with sufficient time to choose the appropriate bonus.
To simplify the application process, the company clarified that shareholders do not need to submit a Client Master List (CML) along with the election form.
As part of the bonus issue, shareholders will receive one preference share for every 6,000 equity shares they hold.
OYO also clarified that SoftBank Vision Fund and Ritesh Agarwal’s entities, which hold majority stakes in the company in the form of preference shares, are not eligible to participate in this issue.
The company is expected to file draft documents with SEBI later this month for its Initial Public Offering (IPO). According to industry sources, OYO’s valuation for the IPO could be around USD 7–8 billion.