New Delhi, Dec 31 (PTI) Prism, the parent firm of global travel tech unicorn Oyo, has filed preliminary papers with market regulator Sebi to raise Rs 6,650 crore through an initial public offering (IPO)
using a confidential route, people familiar with the development said on Wednesday.
The proposed public offering is expected to value the company in the range of USD 7-8 billion, they added.
The filing follows shareholders' approval at an extraordinary general meeting (EGM) held on December 20, 2025, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares, subject to regulatory approvals and market conditions.
Oyo's parent entity Prism has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges", said the people aware of the development.
The company aims to tap public markets at an opportune time in 2026, following a year of revenue growth and continued EBITDA positivity, said people in the know.
It had initially appointed ICICI Securities, Axis Capital, Goldman Sachs and Citibank as the book-running lead managers to the proposed IPO, but has since added more banks to the syndicate.
The hotel aggregator first filed for an IPO in 2021 to raise Rs 8,430 crore and filed offer documents with Sebi targeting a USD 12 billion valuation, followed by a subsequent filing incorporating updated financial and operational disclosures in 2023.
However, the company later withdrew its IPO plans amid heightened global market volatility, which weighed on investor sentiment at the time.
Oyo was founded by Ritesh Agarwal in 2012, who is Prism's Group CEO. SoftBank remains one of its largest shareholders.
Moody's recently reaffirmed Prism's B2 corporate family rating with a stable outlook.
The ratings agency expects the company's EBITDA to more than double to approximately USD 280 million (around Rs 2,496 crore) in FY26, supported by earnings from the acquisition of G6 Hospitality, expansion of premium storefronts, and continued cost optimisation.
Sebi's confidential pre-filing mechanism allows issuers to engage with the regulator and refine disclosures before making offer documents public. The route provides companies with flexibility on timing, reduces market scrutiny during the regulatory review process, and enables issuers to test investor appetite before launching the IPO. PTI RSN RKL RSN BAL
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