IPO-bound Oravel Stays which operates the hospitality giant OYOwill cover more than 80% of its workforce (1,200 employees) through its ESOPs scheme. OYO has a total ESOP pool of 638,240,000 options, which will be worth nearly $1 billion when converted.
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full stack technology that increases earnings and eases operations. According to regulatory filings, the startup allotted 3,999 bonus shares for each share held, and for preference shareholders, OYO changed the conversion ratio to equity from 1:1 to 1:4,000. As a result, the equity share price has been reduced to $1.46. So, if all of the employees chose to convert their ESOP to equity shares right now, the equity shares would be worth $ 931 million