CNBC-TV18 Newsbreak Confirmed: OYO parent Prism gets SEBI nod for IPO, eyes valuation of up to $8 billion

OYO parent Prism has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering (IPO), moving the travel-tech company a step closer to a public listing.

Prism plans to raise ₹6,650 crore through the offering. The proposed IPO is expected to value the company at around $7-8 billion, according to people familiar with the matter.

The company had filed its draft papers through the confidential pre-filing route in December 2025. CNBC-TV18 had earlier reported

, citing sources, that the company was seeking regulatory approval for the issue and could command a valuation of around $7-8 billion.

The proposed listing marks another attempt by the company to go public. OYO had first filed draft papers for an IPO in 2021 but later withdrew the proposal amid challenging market conditions following the COVID-19 pandemic. The company made another attempt in 2023, though the process did not move forward after SEBI sought clarifications on certain aspects of the proposed issue. It subsequently opted for the confidential pre-filing route in December 2025 through its parent entity Prism.

As part of the IPO process, Prism is expected to file its Updated Draft Red Herring Prospectus (UDRHP-1) by the first week of July. Once filed, the document will be opened for public comments for a period of 21 days.

The confidential filing route allows companies to begin the regulatory review process without immediately disclosing detailed financial and business information to the public. Following SEBI's observations, companies are required to submit updated offer documents before proceeding with the issue.

The proposed listing is expected to be among the most closely watched IPOs in India's consumer technology and hospitality sectors, given OYO's scale and presence across domestic and international markets.

Axis Capital, Citibank, Goldman Sachs, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive Fiscal Services have been appointed as the book-running lead managers for the issue.

OYO operator Oravel Stays was rebranded as Prism in September 2025. The company operates one of India's largest hospitality and travel technology platforms, with a presence across hotels, holiday homes and related travel services.

The IPO would mark a major milestone for the company as it looks to tap public markets amid improving business performance and continued expansion across domestic and international markets.