IPO news: OYO parent PRISM clears shareholder vote to raise up to Rs 6,650 crore; listing plan moves a step closer
OYO’s parent company PRISM has secured shareholder approval to raise up to Rs 6,650 crore through a fresh issue of equity shares as part of its proposed initial public offering, signalling steady progress towards a public market debut, according to PTI.The approval was granted at an extraordinary general meeting held on December 20, where shareholders cleared the proposal to undertake an IPO, giving the travel technology firm flexibility to tap capital markets at an opportune time, subject to regulatory clearances and prevailing market conditions.The shareholder nod marks a milestone in PRISM’s listing preparations, as the company lines up approvals ahead of a potential public issue.The development comes amid improving financial expectations for the company. Ratings agency Moody’s has recently reaffirmed PRISM’s corporate family rating with a stable outlook and said it expects the firm’s EBITDA to more than double to about $280 million, or nearly Rs 2,496 crore, in FY26. The growth is expected to be driven by the expansion of premium storefronts and continued cost efficiencies.
