OYO parent PRISM has reportedly received SEBI approval for its proposed IPO. The company plans to raise up to Rs 6,650 crore through a fresh share issue and may seek a valuation of USD 7-8 billion. The updated draft prospectus is expected to be filed in July.
SEBI Clears Path for IPO
PRISM, the parent company of hospitality and travel technology platform OYO, has reportedly received approval from the Securities and Exchange Board of India (SEBI) to move ahead with its initial public offering (IPO).
The approval marks a major step towards the company’s long-awaited stock market debut. Sources said the company is now reviewing market conditions and deciding the right timing for the public issue.
Rs 6,650 Crore Fundraising Plan
The company had filed its confidential Draft Red Herring Prospectus (DRHP) with SEBI in December 2025.
Earlier, shareholders had approved a plan to raise up to Rs 6,650 crore through a fresh issue of shares. The IPO is expected to help the company strengthen its business operations, expand growth plans and improve its financial position.
Valuation Seen at USD 7-8 Billion
According to sources, PRISM’s IPO could value the company between USD 7 billion and USD 8 billion.
If achieved, the listing would place the company among the major consumer technology and hospitality firms in India’s public markets. Investors are expected to closely track the issue because of OYO’s large presence in both Indian and international markets.
Updated Prospectus Expected in July
As part of the regulatory process, PRISM is expected to file its Updated Draft Red Herring Prospectus (UDRHP-1) by the first week of July.
Once the updated document is submitted, it will be made available for public comments for 21 days. After addressing observations and completing regulatory requirements, the company can move towards launching the IPO.
Why the Confidential Route Was Chosen?
PRISM used the confidential filing route, which allows companies to begin the regulatory review process without immediately disclosing detailed financial and business information.
This method has become increasingly popular among large companies planning stock market listings.
Leading Investment Banks on Board
The company has appointed several investment banks as book-running lead managers for the issue. These include Axis Capital, Citibank, Goldman Sachs, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive Fiscal Services.
PRISM operates one of India’s largest hospitality and travel technology platforms through OYO, offering hotels, holiday homes and other travel-related services across multiple countries.