OYO Parent-PRISM gets shareholder approval for ₹6,650 crore IPO

PRISM, the parent company of OYO, has received shareholder approval to raise up to ₹6,650 crore through a fresh issue of equity shares as part of its proposed initial public offering.

The approval was granted at an Extraordinary General Meeting (EGM) held on December 20, 2025, according to company filings seen by CNBC-TV18.

As per the scrutiniser’s report, the special resolution to undertake the IPO was approved with 100% of the valid votes cast in favour, through a combination of remote e-voting and voting conducted during the meeting.

Shareholders also approved a bonus issue of equity shares in the ratio of 1:19, with December 5, 2025 fixed as the record date to determine eligible shareholders.

Other resolutions cleared included an increase in authorised share capital and the adoption of a revised set of Articles of Association, steps typically undertaken ahead of a public listing.

PRISM, formerly known as Oravel Stays, is the holding company of OYO.

The company formally adopted the PRISM name earlier this year, a move seen as part of its effort to reposition itself as a broader travel and technology platform rather than a pure-play budget hospitality brand.

Founded by Ritesh Agarwal in 2012, it has emerged as a global hospitality technology platform offering standardised hotels, homes, and living spaces by partnering with hotel owners, using full-stack tech for booking, operations, and revenue management.

The shareholder approval comes against the backdrop of improving operating performance. In its latest earnings update,

For FY25, the company posted revenue of about ₹6,253 crore, up roughly 16% year-on-year as topline expanded across key markets. Profit after tax stood at ₹244.8 crore, up about 7% from ₹229.6 crore the previous year.

OYO’s public market plans have been deferred more than once in the past, including after an aborted IPO attempt during a period of heightened scrutiny over governance, valuation, and business sustainability.

Since then, the company has simplified its capital structure, raised capital through private placements, and reduced leverage.

The company has not indicated a launch timeline for the IPO.