Prism’s Third IPO Attempt Follows Two Withdrawals, a Valuation Reset, and a Return to Profit
Photo Credit: Oyo's company-serviced Palette Palghar Irayos Resort Lifestyle Retreat. Oyo
Skift Take
Oyo-parent Prism is heading towards the largest travel IPO in India in what would be its third attempt at listing in the public markets.
Oyo parent Prism is getting ready to file for an initial public offering (IPO), a development that came to light on Tuesday. Prism has received shareholder approval to raise up to INR 66.5 billion ($744 million) through a fresh issue of equity shares, Skift’s Asia Editor Peden Doma Bhutia reported.
If Prism goes ahead with an IPO of this size, it would be the largest public issue in India’s travel industry. In November, Skift reported that the company would ask shareholders for permission to raise funds through a fresh issue of shares in an Extraordinary General Meeting (EGM) on December 20.
The company now has the flexibility to access public markets at a time of its choosing, subject to regulatory clearances and market conditions. According to Prism, an overwhelming majority of shareholders approved the resolutions.
A Third Attempt: This is not the first time that Prism has decided to enter the public markets. Founded in 2013, Prism h
