General · Nigeria
PRISM Reduces IPO Fresh Issue Size by Nearly Half
Owlester AI · from 1 source ·
PRISM has reduced its IPO fresh issue size to Rs 3,350 crore from Rs 6,650 crore due to improved financial health. The funds will primarily be used for debt repayment. Moody's Ratings has upgraded PRISM's outlook to positive, expecting EBITDA growth. Ritesh Agarwal and SoftBank remain major stakeholders.
Key facts
- PRISM reduced IPO fresh issue size to Rs 3,350 crore from Rs 6,650 crore.
- Improved financial health and robust cash flow led to the reduction.
- Majority of funds will be used for debt repayment.
- Moody's Ratings upgraded PRISM's outlook to positive, expecting EBITDA growth.
- Ritesh Agarwal and SoftBank remain major stakeholders.