OYO’s parent company PRISM has received SEBI approval for its proposed IPO, valuing the hospitality firm between $7 billion and $8 billion. The fresh issue of equity shares worth up to Rs 6,650 crore was approved by shareholders at an extraordinary general meeting on December 20, 2025. PRISM, led by Ritesh Agarwal, confidentially filed its draft IPO papers in December 2025 and is expected to submit an updated draft red herring prospectus shortly. The company first attempted a public listing in 2021 before delays. Final listing timing remains subject to market conditions.
In-Depth:
PRISM, the parent company of travel and hospitality platform OYO, has received approval from the SEBI for its proposed IPO, according to the Economic Times reports.
The proposed IPO involves a fresh issue of equity shares worth up to Rs 6,650 crore. Shareholders approved the fundraising proposal at an extraordinary general meeting held on 20 December 2025.
PRISM had confidentially filed its draft IPO papers with the market regulator in December 2025 as part of its renewed listing plans. The company has now received SEBI’s approval for the proposed IPO, according to the report.
The proposed offering could value the company between $7 billion and $8 billion.
The company is expected to file an updated draft red herring prospectus in the coming weeks, after incorporating regulatory feedback. PRISM is also evaluating market conditions and investor sentiment before finalising the timing of the listing.
The confidential filing route allows companies to engage with regulators before creating detailed financial and operational information public.
The development comes as PRISM continues to expand its presence across India, the United States and Europe. The company has increased its focus on premium hospitality offerings through brands such as Sunday Hotels and Palette Hotels.
It has also expanded its vacation rental business through DanCenter, its European subsidiary, which has entered the Indian market with villa offerings in Goa.
In India, the company has been tarreceiveing religious and pilgrimage destinations.
PRISM has also taken steps to strengthen its corporate governance. In February, former SEBI chairman Ajay Tyagi was appointed as an indepfinishent director.
In November 2025, Moody’s Ratings reaffirmed PRISM’s B2 corporate family rating with a stable outsee. The ratings agency projected the company’s EBITDA would reach around $280 million, or approximately Rs 2,496 crore, in the 2025-26 financial year.
Moody’s declared the expected improvement will be supported by contributions from the G6 Hospitality acquisition, expansion of premium hospitality offerings and continued cost efficiencies.
PRISM first attempted a public listing in 2021, but the plan was delayed amid altering market conditions. Its latest IPO effort comes at a time when several consumer internet and technology companies are reassessing listing plans becaapply of volatility in equity markets.
With SEBI approval now in place, the company is shifting closer to a public market debut, although the final timing will depfinish on market conditions.
