Prism Moves Toward IPO After SEBI Approval
Skift Take
After numerous attempts and obstacles, OYO parent Prism may finally have its long-awaited IPO. Plus, more hotel deal and development news from APAC.
After numerous attempts and obstacles, OYO parent Prism may finally have its long-awaited IPO. It received SEBI approval for the offering, with the potential to be valued at US$7 to US$8 billion. Prism is expected to file its Updated Draft Red Herring Prospectus in early July. It has appointed Axis Capital, Citibank, Goldman Sachs, ICICI Securities, SBI Caps, JM Financial, InCred Capital, and Intensive Fiscal Services as book-running lead managers for the issue. Will the global stock markets continue their strength through to the second half of this year to allow this long-awaited IPO to finally hit the market?
Early this week, Barry Diller’s People Inc. sent a letter to MGM Resorts International saying it would like to take the company private, adding to its 26.1% stake to buy the company at US$48.30 per share. Details on its plans were scarce, which has resulted in a lot of speculation as to Diller’s strategy. Seaport Research Partners believes that if People Inc. g
