Oyo parent Prism calls for an EGM to consider raising Rs 6,650 crore via IPO

Prism, the parent company of hospitality major Oyo, has called an Extraordinary General Meeting (EGM) on December 20 to seek shareholder approval for raising up to Rs 6,650 crore through a fresh issue of shares as part of its proposed initial public offering (IPO), according to a copy of the EGM notice reviewed by Moneycontrol.

The move marks the most definitive step yet in Oyo’s renewed attempt to tap public markets.

The company is seeking extensive enabling approvals from shareholders to structure and execute the issue, undertake pre-IPO placements, modify its capital structure and overhaul its governance framework in line with requirements for a publicly listed company. If cleared, these resolutions will give Prism the mandate to proceed with its long-delayed listing plan.