Prism has filed its updated draft red herring prospectus with market regulator SEBI. The parent company of OYO received official regulatory approval earlier this month. The firm previously used the confidential pre-filing route in December 2025 to submit its early paperwork.
The proposed OYO IPO will raise 6,650 crore rupees. This entire public issue consists of a fresh issue of shares. No current shareholder is selling equity through an offer for sale. The company wants to target a market valuation between 7 billion dollars and 8 billion dollars. The company may also conduct a pre-IPO placement worth 1,330 crore rupees before opening the final book. The firm will deduct the pre-IPO collection from the main issue size if that placement succeeds.
Prism will use 4,987.5 crore rupees from the net collections to clear or prepay its corporate borrowings. The management will use the remaining money for general corporate work.
A large group of financial institutions will manage this public issue. The lead managers include:
- Axis Capital and Citigroup Global Markets India
- Goldman Sachs Securities and ICICI Securities
- InCred Capital and Intensive Fiscal Services
- JM Financial and SBI Capital Markets
The stakes of the original builders and institutional partners will remain exactly the same after this public listing. The list of existing investors includes:
- Founder Ritesh Agarwal and RA Hospitality Holdings
- SoftBank’s SVF India Holdings and Microsoft
- Airbnb and Khazanah
- Lightspeed along with Greenoaks Capital and Peak XV
The company also received major legal relief recently. The Delhi bench of the Income Tax Appellate Tribunal cancelled a tax demand worth 3,885 crore rupees against the company. The tribunal decided that the share premium from convertible preference shares is not taxable under angel tax rules. S&P Global Ratings also upgraded the corporate outlook of the firm from stable to positive.
The hospitality operator rebranded its name from Oravel Stays to Prism in September 2025. The company currently manages 43 brands across more than 35 nations. Total operational revenue reached 6,941 crore rupees during the first nine months of the financial year 2026. This figure crossed the entire previous financial year revenue of 6,259 crore rupees. Net profit after tax jumped to 748 crore rupees during these nine months.
The business in the United States emerged as a primary growth engine after the acquisition of G6 Hospitality. This US segment operates the Motel 6 brand and the Studio 6 brand. The US operations generated a gross booking value of 12,022.51 crore rupees. This amount represents more than 52% of the global booking value of the firm. The company also expanded its European footprint to 269,251 properties. The Indian hotel network grew to 1,573 storefronts and recorded a booking value of 1,346.45 crore rupees.
Disclaimer: This article provides corporate market updates for information only and does not serve as investment advice. Please read all official OYO IPO documents carefully before making financial commitments.