Synopsis
Oyo's parent company, Prism, has received approval from Sebi to proceed with its Rs 6,650 crore IPO. The company is expected to be valued between USD 7-8 billion. Prism plans to file its public Updated Draft Red Herring Prospectus by early July, while assessing market conditions for its listing.The company had filed its Confidential Draft Red Herring Prospectus (DRHP) with SEBI at the end of December 2025 as part of its listing plans.
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 Rs 6,650 crore through a fresh issue of equity shares.
The proposed public offering is expected to value the company at around $7–8 billion, according to people familiar with the matter.
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. 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. As per sources, the company is planning to file this by early July. Sources said PRISM is currently evaluating market conditions and broader listing timelines while it prepares to file its UDRHP-1.
PRISM recently appointed former SEBI chairman Ajay Tyagi as an independent director on its board.
Global ratings agency Moody’s recently reaffirmed PRISM’s B2 corporate family rating with a stable outlook. Moody’s expects the company’s EBITDA to more than double to approximately $280 million (around Rs 2,496 crore) in financial year 2026, supported by earnings from the G6 Hospitality acquisition, expansion of premium storefronts, and continued cost optimisation.
