New Delhi, Nov. 3 -- OYO has announced a new bonus share offer, but it's not a conventional one. Instead of simply rewarding existing shareholders with extra stock, the company has designed a structure that effectively asks investors to bet on the success and timing of its long-awaited initial public offering (IPO).

The announcement comes as the hospitality firm gears up for a third attempt at going public, restarting talks with Indian and global investment banks to list by the end of this financial year (FY26).

On 29 October, OYO sent a postal ballot to its shareholders announcing the issue of bonus compulsorily convertible preference shares (CCPS)-a special class of shares that later convert into regular equity.

Unlike a typical 1:1 ...