Oyo IPO: Prism, the parent company of hospitality business company Oyo, is coming with its IPO this year. Earlier its name was Oravel Stays. It is being told that the company has pre-filed its draft red herring prospectus (DRHP) confidentially with the capital market regulator SEBI. With this, the way for its IPO also seems to be clear.
After companies like Zepto, PhonePe, PhysicsWallah, Tata Capital, Meesho, Groww, boAt and Shiprocket, PRISM is the 19th company to choose the confidential pre-filing mechanism to list its shares on the stock exchange.
Eye on valuation of $7-8 billion
OYO’s parent company PRISM plans to raise up to Rs 6,650 crore through IPO. The company is eyeing a valuation of around $7 to 8 billion (about Rs 70 per share) for this IPO. According to the report, shareholders had approved the company’s plan to raise funds in an extraordinary general meeting held on December 20, 2025.
In an interview with Fortune India in June this year, OYO founder Ritesh Aggarwal had said that the company is focusing on being ready for IPO with an independent board, strong governance and high-quality earnings. He further said that once these foundations are firmly established, the final decision on the public offering will be taken by the board of OYO.
Several attempts to bring IPO
According to sources, ICICI Securities, Axis Capital, Goldman Sachs and Citibank are the book running lead managers for the issue and more banks have been added to the syndicate recently. Before this, PRISM had tried twice to launch an IPO. Earlier the company had applied for IPO in the year 2021, but at that time the plan had to be withdrawn amid fluctuations in the global market due to the Corona epidemic and the war between Russia and Ukraine.
After this, again in 2023, the company submitted a revised draft red herring prospectus (DRHP) to the market regulator SEBI. The company planned to launch an IPO in the same year, but again things did not progress and the company finally withdrew its IPO application on May 17, 2024. Later there were reports that OYO was planning to debut in the market by October 2025, but it was once again delayed amid huge fluctuations in the market after US President Donald Trump’s announcement of tariffs.
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