OYO parent cuts IPO fresh issue to ₹3,350 Cr
By Abha Lohia ·
OYO: revenue and funding and every story →
- OYO's parent company Prism is preparing a public listing, with Ritesh Agarwal as founder and group chief executive
- The fresh share sale is being nearly halved, and will now be up to ₹3,350 crore
- A smaller new issue means the company raises less new money from the market in this listing
What happened
- OYO's parent Prism plans a smaller IPO.
- The fresh issue falls to up to ₹3,350 crore.
- The cut is close to half of the earlier size.
Why it matters
- Less fresh money comes into the company.
The business
- Prism owns the OYO hotel brand.
The founders
Words to know
- Fresh issue
- New shares sold to raise money for the company
Terms in this story
- IPO: An IPO, or initial public offering, is the first time a company sells its shares to the general public and gets listed on a stock exchange. In India the process is supervised by SEBI and ends with the shares trading on the NSE and BSE.
- Offer for sale: In a fresh issue, the company creates new shares and receives the money. In an offer for sale (OFS), existing shareholders sell shares they already own and the company receives nothing. Most Indian IPOs are a mix of the two.
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