New Delhi, March 4 -- IPO-bound online investment platform Groww has issued compulsorily convertible preference shares as bonus to existing investors, including Peak XV and Ribbit, according to a Competition Commission of India's notice.

According to the notice issued on 3 March, the transaction will also result in collapse of the differential voting rights (DVR) held by Harsh Jain, Lalit Keshre, Neeraj Singh and Ishan Bansal, the founders of Groww. This comes at a time when the company has enlisted investment banks for its upcoming $1-billion-plus initial public offering, according to news reports.

The notice, however, did not mention the amount of bonus shares issued to each investor.

Groww and existing investors Peak XV and Ribbit C...