Oravel Stays Limited, the parent company of Oyo, has called an Extraordinary General Meeting (EGM) for December 20.
Shareholders attending the EGM are scheduled to vote on proposals including the approval of a ₹6,650-crore Initial Public Offering (IPO). They will also consider a revised bonus issue, distributing one share for every 19 held, with December 5 designated as the record date for this bonus issue.
Additionally, a resolution will be presented to raise the company's authorized share capital to ₹2,491 crore.
Source: https://economictimes.indiatimes.com/markets/ipos/fpos/oyo-parent-seeks-shareholder-nod-for-rs-6650-cr-ipo/articleshow/125650546.cms