Oyo parent PRISM to cut IPO fresh issue nearly 50% to Rs 3,350 crore: Sources
PRISM is set to scale back its initial public offering from Rs 6,650 crore to Rs 3,350 crore in light of its robust cash flow and enhanced balance sheet. The majority of the newly structured funds will focus on repaying or prepaying debts. Moody's Ratings has adjusted PRISM's outlook to positive, anticipating growth in EBITDA. Notably,...
Key Takeaways
- PRISM is set to scale back its initial public offering from Rs 6,650 crore to Rs 3,350 crore in light of its robust cash flow and enhanced balance sheet.
- The majority of the newly structured funds will focus on repaying or prepaying debts.
- Moody's Ratings has adjusted PRISM's outlook to positive, anticipating growth in EBITDA.
PRISM is set to scale back its initial public offering from Rs 6,650 crore to Rs 3,350 crore in light of its robust cash flow and enhanced balance sheet. The majority of the newly structured funds will focus on repaying or prepaying debts. Moody's Ratings has adjusted PRISM's outlook to positive, anticipating growth in EBITDA. Notably, OYO's founder, Ritesh Agarwal, and SoftBank maintain substantial stakes in the venture.
Original Publisher Attribution
This summary was curated from Economic Times.