OYO parent PRISM to nearly halve IPO fresh issue to up to Rs 3,350 crore

PRISM, the parent of OYO, plans to cut the fresh issue in its IPO to up to Rs 3,350 crore from about Rs 6,650 crore, citing strong cash generation and an improving balance sheet. Most proceeds will go toward repaying borrowings, and Moody's has revised its outlook on the company to positive.

• Fresh issue cut to up to Rs 3,350 crore from about Rs 6,650 crore
• OYO FY26 EBITDA more than doubled to Rs 2,630 crore
• Moody's expects EBITDA to reach about Rs 3,000 crore in 12-18 months
• SoftBank holds 40.04% of PRISM; founder Ritesh Agarwal holds 30.52%