OYO parent PRISM is planning to nearly halve the size of the fresh issue in its proposed initial public offering (IPO) to up to Rs 3,350 crore from almost Rs 6,650 crore, sources said on Tuesday.
People familiar with the matter told PTI the reduction in the issue size follows continued strong cash generation and an improving balance-sheet position, which has lowered the amount of capital the company needs to raise compared with what was originally envisaged.
