OYO Parent Prism Files ₹6,650 Crore IPO Papers With Sebi
- 1st July 2026
- 03:00 PM
- 3 min read
Summary
Prism Hotels and Resorts, the parent company of OYO, has filed an updated draft red herring prospectus with the Securities and Exchange Board of India for a proposed initial public offering. The issue comprises a fresh issue of up to ₹6,650 crore, with no offer for sale by existing shareholders.Mumbai | 1 July 2026
Prism filed its updated draft red herring prospectus (UDRHP-I) with Sebi on Tuesday, moving the hospitality technology company a step closer to its stock market debut. The proposed IPO is structured entirely as a fresh issue of equity shares worth up to ₹6,650 crore.
Issue Structure and Use of Proceeds
The company may consider a pre-IPO placement of up to ₹1,330 crore before filing its red herring prospectus. If this placement goes through, the fresh issue size will be reduced by that amount. Of the net proceeds, ₹4,987.5 crore is earmarked for repayment or prepayment of borrowings. The remaining funds will go towards general corporate purposes. Prism received Sebi’s approval for the IPO earlier this month. The company had filed its preliminary papers through the confidential route in December 2025.
No Stake Sale by Existing Investors
The IPO carries no offer for sale component. Existing shareholders, including SoftBank’s SVF India Holdings, founder Ritesh Agarwal, Microsoft, Airbnb, Khazanah, Lightspeed, RA Hospitality Holdings, Peak XV Partners, Greenoaks Capital, Global Ivy Ventures and InCred, will not be selling any shares as part of this offering.
Financial Performance
Prism reported revenue from operations of ₹6,941 crore for the nine months ended December 2025, up around 11 percent from ₹6,259 crore in FY25. Profit after tax stood at ₹748 crore for the nine-month period, compared with ₹245 crore in FY25. EBITDA more than doubled to ₹2,127 crore from ₹953 crore a year earlier. EBITDA excluding exceptional items, share-based payment expenses and other income stood at ₹1,968 crore.
Business Footprint
As of 31 December 2025, Prism operated 43 brands across more than 35 countries, with a network of 24,303 hotels and 124,668 homes, taking total listings to 144,583. This includes 14,937 storefronts in India. Company-serviced hotel storefronts in India rose to 1,573 by the end of December from 1,053 nine months earlier, contributing nearly half of the company’s India gross booking value. India company-serviced hotel GBV stood at ₹1,346.45 crore in the nine-month period, against ₹818.23 crore in FY25. The company’s US business, driven by its G6 Hospitality acquisition covering the Motel 6 and Studio 6 brands, posted a GBV of ₹12,022.51 crore, up from ₹4,712.83 crore in FY25.
Outlook
The filing follows Sebi’s approval earlier this month and precedes the filing of the final red herring prospectus, ahead of which the company may complete the proposed pre-IPO placement.
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