The proposed all-fresh issue could value the global travel technology firm at $7–8 billion, marking its return to the public markets after shelving earlier plans amid global volatility.
Prism has sought sweeping shareholder approvals to restructure its capital, overhaul its governance framework and authorise a large fresh issue, signalling its most serious push yet to revive Oyo’s long-delayed listing plans.
The corporate rebrand comes at a pivotal moment for the group, as it gears up for a renewed IPO bid later this year
The company is expected to approach its board with the proposal next week, people familiar with the matter told PTI
The company started informal discussions last month and is now calling for pitches, according to a person familiar with the development
SoftBank does not favor Oyo's plan to list in October and has pressed the company to hold off on a public offering until its earnings are stronger, people familiar with the matter told Bloomberg News, asking not to be identified as the information is private
In preparation for the refinancing, OYO has already moved its application with markets regulator SEBI to withdraw its current draft red herring prospectus (DRHP).
Oravel Stays Pvt, as Oyo’s parent company is known, is seeking to extend maturity to five years compared with the existing 2026 deadline, one of the people said