OYO parent PRISM secures SEBI nod for IPO, sources say

OYO parent PRISM has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering (IPO), sources told CNBC-TV18, moving the hospitality and travel technology firm a step closer to a public listing.

The company had filed its confidential Draft Red Herring Prospectus (DRHP) in December 2025 after shareholders approved plans to raise up to ₹6,650 crore through a fresh issue of shares.

According to sources, the proposed IPO could value PRISM at around $7-8 billion. The company is currently evaluating market conditions and broader listing timelines before taking the next step in the process.

As part of the IPO roadmap, 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 moving ahead with the issue.

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

Also Read: Las Vegas to New York, OYO parent PRISM expands in US with 30 new extended-stay launches

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.

PRISM, the parent entity of OYO, operates one of India’s largest hospitality and travel technology platforms, with a presence across hotels, holiday homes and related travel services.