Prism, the parent firm of global travel tech unicorn OYO, has secured clearance from markets regulator SEBI to raise ₹6,650 crore through its initial public offering (IPO), people familiar with the development told news agency Press Trust of India on Tuesday.
The proposed public offering is expected to value the company at $7-8 billion, they added.
OYO’s parent entity, Prism, filed the preliminary IPO papers with SEBI at the end of December 2025 using the confidential route.
The filing followed shareholders’ approval at an Extraordinary General Meeting (EGM) held on December 20, 2025, where the company received consent to raise up to ₹6,650 crore through a fresh issue of equity shares.
As the next step, the company will now file a public updated draft red herring prospectus (UDRHP-1), which will be open for public comments for 21 days. People familiar with the development said the company is planning to file this by early July.
They said that Prism is currently evaluating market conditions and broader listing timelines while preparing to file its UDRHP-1.
The hospitality chain initially filed for a public offer in 2021 to raise ₹8,430 crore but later withdrew the plans due to heightened global market volatility.
Prism opted for the confidential pre-filing route, which allows the company to engage with the Securities and Exchange Board of India (SEBI) for initial feedback on its draft document without it being publicly disclosed.
As the next step, the company is expected to file a public Updated Draft Red Herring Prospectus (UDRHP-1) in early July, which will be open for public comments for 21 days, people familiar with the development told PTI.
The development comes as Prism continues to strengthen its presence across its key markets-India, the US, and Europe-and increases its focus on self-operated hotels and the growth of premium brands such as Sunday Hotels & Pallette Hotels. Also, it recently entered the vacation homes segment in India with its European brand DanCenter by opening villas for rent in Goa.
In India, Prism has also increased its presence in religious destinations to capitalize on the growth in spiritual travel. The company has appointed Axis Capital, Citibank, Goldman Sachs, ICICI Securities, SBI Caps, JM Financials, InCred Capital and Intensive Fiscal Services as the book-running lead managers for the IPO.
In February this year, the company appointed former SEBI Chairman Ajay Tyagi as an independent director on its board. Tyagi has extensive experience in financial-sector policy, market regulation, and corporate governance.
About OYO
OYO was founded by Ritesh Agarwal in 2012, who is Prism’s Group chief executive officer (CEO). SoftBank remains one of its largest shareholders.
The group’s portfolio spans hotels under brands like OYO, Motel 6, Townhouse, Sunday and Palette. In the vacation homes segment, it operates various brands, such as Belvilla, DanCenter, CheckMyGuest, and Studio Prestige. The extended stay category is represented by Studio 6, acquired through G6 Hospitality in the US.
Additionally, the portfolio encompasses workspaces and celebration spaces, offered through Innov8 and Weddingz.in. The group also offers hospitality technology solutions, including AI-driven partner tools and data science platforms.