Oyo parent PRISM to cut IPO fresh issue nearly 50% to Rs 3,350 crore: Sources

What happened: Oyo parent PRISM will cut the fresh issue in its IPO from Rs 6,650 crore to Rs 3,350 crore, with most of the proceeds going to repay or prepay debt. Key numbers: Fresh issue reduced to Rs 3,350 crore from Rs 6,650 crore, a cut of nearly 50%. Why it matters: The company cited robust cash flow and an enhanced balance sheet for the smaller issue, and Moody's Ratings changed its outlook to positive on expected EBITDA growth.

Oyo parent PRISM cuts IPO fresh issue nearly 50% to Rs 3,350 crore.

Oyo parent PRISM cuts IPO fresh issue nearly 50% to Rs 3,350 crore. — impact context not separately stored; see What changed.