Prism proposes to use Rs 4,987.5 crore from the net proceeds for repayment or prepayment of borrowingsMUMBAI: Oyo parent Prism has filed its updated draft IPO papers with markets regulator Sebi. The company is seeking to raise up to Rs 6,650 crore through fresh issue of shares.The firm may also consider a pre-IPO placement of up to Rs 1,330 crore prior to filing the Red Herring Prospectus (RHP) with the Registrar of Companies. If undertaken, the amount raised through the pre-IPO placement will be reduced from the fresh issue.Prism proposes to use Rs 4,987.5 crore from the net proceeds for repayment or prepayment of borrowings. The balance will be used for general corporate purposes.With the IPO structured as an entirely fresh issue, marquee existing shareholders including SoftBank’s SVF India Holdings, founder Ritesh Agarwal and RA Hospitality Holdings, Microsoft, Airbnb, Khazanah, A1 Holdings. , Star Virtue Investment, Global Ivy Ventures, Lightspeed, Greenoaks Capital and Peak XV are not selling shares through the proposed public issue.Prism which had filed IPO papers through the confidential route in December end had secured Sebi’s nod to go ahead with its IPO in what will be its third attempt at going public.The company joins Zepto in the IPO queue.