Founded in 2012 by Ritesh Agarwal, Oyo serves more than 100 million customers across over 35 countries. (Photo: Oyo website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Travel tech platform Oyo on Monday announced the withdrawal of its controversial 6,000:1 bonus issue plan, as per which, investors were to receive one bonus Compulsorily Convertible Preference Share (CCPS) for every 6,000 equity shares they hold in the company.

The company, in a statement, confirmed its roll back and said that it will shortly introduce a new and simplified bonus structure that includes all shareholders, ensuring equal participation and transparency, following feedback from shareholders.

"We are not proceeding with the current resolution and will shortly bring a fresh, unified proposal

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