Oyo-parent Prism files for Rs 6,650 crore IPO via confidential route

Oyo-parent Prism files for Rs 6,650 crore IPO via confidential route

• PRISM, OYO's parent, files confidential IPO with SEBI to raise Rs 6,650 crore.
• PRISM's second IPO attempt values company at $7-8 billion after 2021 withdrawal.
• PRISM reported Q1 FY26 net profit of Rs 200 crore and 47 percent revenue growth

Did our AI summary help?

Global travel technology firm PRISM, the parent of OYO, has filed confidential draft red herring prospectus (DRHP) papers with the Securities and Exchange Board of India (SEBI), as it looks to raise up to Rs 6,650 crore through an initial public offering, people familiar with the matter told Moneycontrol.

The proposed IPO will be a fresh issue of equity shares and is expected to value the company in the range of $7–8 billion, the sources said.

The filing follows approval from shareholders at an extraordinary general meeting held on December 20, 2025, where PRISM received consent to raise capital, subject to regulatory approvals and market conditions.

The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs and Citibank as book-running lead managers for the IPO, but has since expanded the syndicate by adding more banks.

PRISM did not immediately respond to queries sent by Moneycontrol.

This marks PRISM’s second attempt at going public. The company had first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a subsequent filing with updated financial and operational disclosures. Those plans were later withdrawn as global equity markets turned volatile and investor sentiment weakened in the aftermath of the Russia–Ukraine conflict.

Since then, the company has significantly scaled its operations in India and overseas, while sharpening its focus on higher-value offerings. It has expanded its premium hotel portfolio through brands such as SUNDAY Hotels and Palette, and strengthened its international presence with the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6.

In recent disclosures, PRISM indicated a strong start to the financial year 2025–26. For the June quarter (Q1 FY26), the company reported a net profit of over Rs 200 crore, revenue of Rs 2,019 crore—up 47 percent year-on-year—and gross booking value (GBV) of Rs 7,227 crore, marking a 144 percent year-on-year increase.

SEBI’s confidential pre-filing route allows issuers to engage with the regulator and refine disclosures before making offer documents public, offering flexibility on timing and reduced public scrutiny during the review process. The route has gained traction among new-age companies, with firms such as Meesho, Swiggy and Tata Play having used or explored the mechanism in recent years.