Oyo Parent Seeks Shareholder Approval for ₹6,650-Crore IPO

Prism, the parent company of Oyo, has scheduled an extraordinary general meeting (EGM) on December 20 to obtain shareholder consent for a ₹6,650-crore IPO and a revised bonus issuance of one share for every 19 shares held. Shareholders will also vote on increasing the authorised share capital to ₹2,491 crore, with the bonus share record date fixed for December 5. Prism, the holding company of Oyo, has convened an EGM on December 20 to secure approval for launching an initial public offering aimed at raising up to ₹6,650 crore through the issuance of fresh equity shares. This development comes after Prism decided to reassess and consolidate its earlier bonus share structure based on feedback from investors and shareholders. The revised framework is intended to ensure fair and uniform benefits for all equity holders, as stated in the EGM notice circulated to shareholders. ET has reviewed a copy of the notice. The bonus shares will be allotted from the company’s share premium and reserve funds.