Hotel room aggregator Oyo’s parent Prism halves IPO size to Rs.3,350-Cr

Prism, the Gurugram-headquartered parent company of hotel room aggregator OYO , plans to reduce the fresh issue size of its proposed initial public offering (IPO) from INR 6,650-Cr to INR 3,350-Cr.Prism is an operator of a global hospitality network. It intends to allocate most of the proceeds from the revised IPO fresh issue toward the repayment of borrowings, with plans to clear the remaining debt over the next two to three years using internal cash flows.