Prism Hotels Secures Sebi Approval for Major IPO

Prism Hotels, the parent company of Oyo, has gained the green light from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO) valued at Rs 6,650 crore. The company aims to achieve a valuation between $7 billion and $8 billion with this significant move.

The proceeds from the IPO are set to bolster its expansion plans and fortify its balance sheet, which is crucial as the company intensifies its efforts toward achieving profitability.