ITAT Wipes ₹3,885 Cr Angel Tax Demand Off PRISM, Clearing OYO's Path To Third IPO Attempt
The tribunal reversed a ₹3,885.51 Cr angel tax order tied to share premium from parent Oravel Stays during PRISM's 2021-22 CCPS issue. Relief lands as the rebranded OYO eyes a $7-8 Bn IPO with a ₹6,650 Cr fresh issue, removing a key contingent liability from its prospectus.
What happened
OYO PRISM · ITAT granted IPO-bound PRISM (formerly OYO) relief from a ₹3,885.51 Cr angel tax demand tied to share premium received from parent Oravel Stays
Key facts
- ₹3,885.51 Cr tax demand reversed
- ₹3,737.99 Cr excess share premium
- ₹147.52 Cr CCPS conversion
- ₹6,650 Cr IPO fresh issue
- $7-8 Bn IPO valuation
Why this matters
The ITAT precedent on CCPS premium taxation is worth filing for any future intercompany capital raises or M&A structuring involving share premium.
Also reported by
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