OYO parent Prism cuts IPO fresh issue to ₹3,350 crore

Prism, the parent company of hospitality startup OYO, has reduced the fresh issue component of its IPO from ₹6,650 crore to ₹3,350 crore, a cut of nearly 50%. The company has pursued a public listing since 2021, when it sought a valuation of about $12 billion.

• Fresh issue cut from ₹6,650 crore to ₹3,350 crore
• The reduction is nearly 50% of planned new capital
• OYO targeted a ~$12 billion valuation in 2021
• Total IPO size including any offer for sale is undisclosed