Oyo’s parent company, Prism, has received SEBI’s approval to raise Rs 6,650 crore through an IPO, people familiar with the matter said on Tuesday. They said the proposed public offering is expected to value the company at $7-8 billion. Prism, the parent company of global travel tech unicorn Oyo, had filed documents for the IPO with the Securities and Exchange Board of India (SEBI) through a confidential mode at the end of December 2025. These documents were filed after shareholders’ approval at the company’s EGM on December 20, 2025.
Company to file UDRHP-1 by July
The company will now move to the next stage by filing its updated draft prospectus (UDRHP-1), which will be open to public comment for 21 days. The company plans to file it by early July. Prism is currently evaluating market conditions and a broad listing timeframe, and is preparing to file its UDRHP-1, he said.
Oyo focusing on developing premium brands
Prism’s IPO announcement comes as the company focuses on strengthening its presence in its key markets: India, the United States, and Europe, while also developing self-contained hotels and premium brands such as Sunday Hotels and Palette Hotels. Additionally, the company recently entered the vacation home segment in India by opening villa rentals in Goa with its European brand, Dancenter.
Oyo was founded by Ritesh Agarwal in the year 2012
Oyo was founded in 2012 by Ritesh Agarwal, who is the CEO of Prism Group. SoftBank is one of its largest shareholders. The company has previously attempted to go public. The company, which connects hotels to its platform, first filed for an initial public offering (IPO) in 2021 to raise ₹8,430 crore and submitted documents to SEBI, aiming for a valuation of $12 billion.
Prism appoints former SEBI chairman Ajay Tyagi as an independent director
This was followed by another application in 2023 with updated financial and operational information. However, rising global market volatility undermined investor confidence, and the company subsequently withdrew its IPO plans. Recently, Prism appointed Ajay Tyagi, former SEBI Chairman, as an independent director on its board. His extensive experience in capital markets, corporate governance, and regulatory matters is expected to strengthen Prism’s board as the company moves toward an IPO.
ALSO READ | EPFO 3.0: Will ATM PF withdrawals reduce your pension? Here’s what you need to know
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
