Budget hospitality chain OYO ’s parent company, Prism, has reportedly filed a confidential Draft Red Herring Prospectus (DRHP) with SEBI for an IPO of up to Rs 6,650 crore. The proposed offering will comprise entirely fresh equity shares and is expected to value the company at $7–8 billion, potentially marking one of the largest listings by an Indian startup in recent years.
The filing follows Prism’s extraordinary general meeting (EGM) on December 20, 2025, where shareholders approved the capital raise. ICICI Securities, Axis Capital, Goldman Sachs, and Citibank are among the book-running lead managers, with an expanded syndicate handling the IPO.
This is Prism’s second IPO attempt, after plans in 2021 were shelved due to global market volatility. The filing comes amid strong financial performance: Prism posted its first full-year net profit in FY24 at Rs 229 crore, with FY25 revenue rising 20% YoY to Rs 6,463 crore and PAT surging 172% to Rs 623 crore. Gross Booking Value (GBV) increased 54% to Rs 16,436 crore.
Prism has also expanded into premium hospitality, launching over 30 Sunday Hotels across India, Saudi Arabia, UAE, and Southeast Asia. Its last post-money valuation stood at $4.22 billion following a Series G funding round in December 2024. SoftBank remains the largest shareholder at 40.3%, followed by RA Hospitality (19.3%), the ESOP pool (11.9%), and founder Ritesh Agarwal holding 6.1%.
