GK and monthly revision

Oyo parent Prism files updated IPO papers for fresh issue worth Rs 6,650 crore

OYO's parent company, Prism (formerly Oravel Stays), has submitted an updated Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at Rs 6,650 crore. The funds raised will primarily be directed towards repaying existing borrowings, with any surplus allocated for corporate purposes. This move is significant as it indicates the company's strategy to strengthen its financial position ahead of a public listing.