OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation

PRISM, the parent of OYO, has filed confidential draft IPO papers with the Securities and Exchange Board of India (SEBI), according to sources aware of the development. The filing follows shareholders’ approval at an Extraordinary General Meeting (EGM) held on December 20, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares.

The proposed public offering is expected to value the company in the range of $7–8 billion, people familiar with the matter said.

The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs, and Citibank as book running lead managers for the proposed IPO, and has since added more banks to the syndicate.

PRISM first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a revised filing with updated financial and operational disclosures. The company later withdrew its IPO plans amid elevated global market volatility.

Since then, the company has expanded its operations across India and international markets and added to its premium portfolio through brands such as SUNDAY Hotels and Palette. It has also strengthened its overseas presence through the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6.

For the quarter ended June 2025 (Q1 FY26), the company reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore.

The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.