OYO-parent PRISM to nearly halve IPO fresh issue size to up to ₹3,350 cr: Sources
Reduction in the issue size follows continued strong cash generation and an improving balance-sheet position, which lowered the amount of capital the company needs to raise compared with what was originally envisaged, sources said.
PRISM, the parent company of OYO, is reducing the size of its planned IPO fresh issue from nearly Rs 6,650 crore to around Rs 3,350 crore, according to sources. This decision comes after the company has continued to generate strong cash flows and see an improving balance sheet, which has decreased the amount of capital needed for the IPO.
The reduced issue size allows OYO to raise the capital it needs while keeping its capital structure efficient and repaying the remaining debt over the next two to three years. The revised plan is part of PRISM's efforts to focus on reducing its outstanding debt and move forward in the next stage of its IPO process.
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