In its message to shareholders, the company said it has received feedback during the postal ballot process and decided to provide investors ample time to choose the bonus option that suits them.

“The selection window, originally set to close on November 1, has been extended by nine days to November 7, 2025. For the ease of application, shareholders are no longer required to submit a Client Master List (CML) along with their election letter,” Oyo stated.

Under the bonus issuance, shareholders will get one preference share for every 6,000 equity shares held. They can either opt for a fixed conversion, where each such share becomes one equity share, or a milestone-linked option, with the milestone being the appointment of bankers for its potential IPO during the current financial year.

Oyo also clarified that SoftBank Vision Fund and Ritesh Agarwal’s entities, which hold majority stakes in the form of preference shares, are not eligible for this issuance.

“The total dilution from this Bonus issuance remains limited to a maximum of 5 per cent of total share capital on a fully diluted basis,” the company said.

The Bonus CCPS is distinct from the earlier 1:1 equity bonus and is meant to recognise those equity holders who have shown belief in the company’s IPO pathway, while still extending some benefits to those who do not opt for the milestone-based reward, Oyo stated.

In August, PTI had reported that Oyo plans to file its draft red herring prospectus (DRHP) in November, eyeing a $7-8 billion valuation for its IPO, according to sources.