OYO parent PRISM receives Sebi approval for Rs 6,650 crore IPO

OYO's parent company, PRISM, has received approval from India's market regulator, Sebi, to launch its initial public offering. The company plans to raise up to Rs 6,650 crore through the IPO, with its valuation expected to reach $7-8 billion. PRISM will file an updated prospectus by early July. PRISM had initially planned to raise Rs 8,430 crore and is now assessing market conditions before proceeding with the offering.