MUMBAI: Oyo parent Prism has filed updated draft IPO papers with markets regulator Sebi, seeking to raise up to Rs 6,650 crore (around $703 million) and moved a step closer to getting listed on the bourses. The IPO has been structured as a primary share sale which means that the company will retain all the proceeds. None of the shareholders are paring stakes in the IPO. Prism may consider a preIPO placement of up to Rs 1,330 crore in which case the issue size will be trimmed. Prism which was valued close to $10 billion at its peak is eyeing an IPO valuation of about $7-8 billion. SoftBank is the largest shareholder in Prism with a 40% stake. The company which is making its third attempt at going public joins quick commerce player Zepto on the road to Dalal Street. It plans to use the bulk of the proceeds–about Rs 4,988 crore for repayment or prepayment of borrowings
