Hospitality unicorn OYO’s parent PRISM has filed its updated draft red herring prospectus (UDRHP) with SEBI for a ₹6,650 Cr IPO, which will comprise entirely of a fresh issue of shares.
The Ritesh Agarwal-led company may also undertake a pre-IPO placement of up to ₹1,330 Cr. PRISM is said to be eyeing a valuation of $7 Bn to $8 Bn for the public issue.
The company plans to use ₹4,987 Cr raised from the IPO to repay or prepay borrowings, while the remainder of the capital will be used for general corporate purposes.
PRISM received SEBI’s approval for its IPO earlier this month, after filing the draft papers via the confidential route in December last year.
Notably, OYO first filed its DRHP in September 2021, aiming to raise about $1.2 Bn at a valuation of $11 Bn to $12 Bn. However, it postponed its public listing plans due to market conditions. Later, it pre-filed draft IPO papers in 2023 but didn’t proceed with the public issue.
(The story will be updated soon)
The post OYO Parent PRISM Files Updated DRHP For ₹6,650 Cr IPO appeared first on Inc42 Media.
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